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Despite rising unilateralism and protectionism in some countries, "China has shown its commitment to international cooperation, openness, rules-based free trade and multilateralism which are important for global economic recovery," said Wilson Lee Flores, a columnist for the English daily The Philippine Star.

Stating that China is still the biggest developing country in the world, Li stressed the fundamental role of development. It will open up at a higher level, establish the new development paradigm, and promote high-quality development, he said.

"Unified registration for pledge of movable property and rights requires the financial system to strengthen and improve management services for the enterprises, and will play a positive role in easing the burden on small and medium-sized enterprises, and in facilitating pledge financing. The financial system must make great efforts to improve services," Li said.

FRANKFURT, Dec. 12 (Xinhua) -- For many companies considering changing suppliers in the wake of supply-chain disruptions during the COVID-19 pandemic, China remains the most attractive outside their main country of location, according to a latest survey by credit insurer Euler Hermes.

Despite the withering global economy and sluggish trade and investment, Li said China and Russia made renewed progress in multiple fields. It is indicated by closer bilateral trade, the blooming development of emerging business forms, steady advancement of major projects of strategic importance in energy and other sectors, and new outcomes in the Far East and subnational cooperation.