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China's economic growth is facing increasing uncertainties as the novel coronavirus outbreak has become a global pandemic. Economists urged that government policy focus in the coming months should be on containing the risk of rising unemployment and preventing temporary shocks caused by the pandemic from becoming permanent damage.

China's foreign trade in July, though slower than expected, still achieved double-digit growth, as the country maintains steady demand for foreign commodities and continues to diversify its trading with various partners.

China's economy continued its firm growth with gross domestic product expanding 6.9 percent year-on-year in the first three quarters, above the government target of 6.5 percent for the year, according to official data.

China's financial minister and central bank governor vowed to strengthen debt management and leverage more private funds for infrastructure construction under the Belt and Road Initiative, suggesting a new framework to assess debt risks for partner countries on Thursday.

China's economy has been generally stable and is one of the fastest-growing economies in the world in 2019, said Liu. He also pointed out that China's economic output has reached nearly 100 trillion yuan (.49 trillion), and that its annual economic expansion of about trillion is almost equivalent to a medium-sized economy in today's world.