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China is considering further cutting the reserve requirement ratio of banks and boosting their relending and rediscount quotas to reduce actual interest rates and financing costs for small and micro businesses, Premier Li Keqiang said on Monday.

China has suspended its large-scale monetary easing, as the economy is recovering, and shifted to innovative monetary measures to channel funds into weak sectors in a more targeted way, while guarding against financial risks, policy analysts said on Tuesday.

China is able to solve major problems by pooling resources and efforts, and it is a great feat to bring tens of millions of people out of poverty with measures including industrial development and job creation, Foe said.

China is the world's largest electric vehicle market, meaning more and more players could bring more innovative business models in the long term, Min said.

China is aiming to steer its economy toward internal demand drivers with the recent announcement of the "dual circulation" model, in which "internal circulation" takes a dominant role and "external circulation" additionally supports the economy. The country's top policymakers have reiterated this year that stance as a core policy tone for the development plan for the next five years.