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China will take necessary measures to protect Chinese companies' legitimate rights and interests, said the spokesperson.

Xi noted China will strengthen the whole-chain IPR protection by comprehensively using legal, administrative, economic, technological, and social governance means. China should improve the protection system through the coordination of various aspects, including administrative law enforcement, judicial protection, industry self-discipline and individual integrity.

In the latest World Economic Outlook report released in October, the International Monetary Fund (IMF) projected China's economy would grow 1.9 percent in 2020, 0.9 percentage points above the IMF's June forecast, which would make it the only major economy to see positive growth this year.

Xi's proposals to deepen solidarity and cooperation in jointly coping with COVID-19, prioritize people's livelihood by eradicating poverty and build a BRICS partnership on the new industrial revolution are "crucial," he added.

"This year, China's economy is able to achieve positive growth. This is attributable to financial institutions' intensified support for micro, small and medium-sized enterprises," Li said. "The Central Economic Work Conference has underlined that necessary support for economic recovery shall be sustained, with well-calibrated and more effective policy operations."