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China needs to expand the opening-up of the financial industry to pursue high-level economic opening-up, said Lu Lei, deputy head of the State Administration of Foreign Exchange. Expanded opening-up can also help ease the negative effects of China-US frictions and anti-globalization sentiment in some countries.

China so far has established 11 FTZs to accelerate the country's opening-up and boost the Belt and Road Initiative, including landlocked Shaanxi and Henan FTZs and those with coastal lines such as Zhejiang and Guangdong FTZs.

China remains firmly committed and determined to conclude the COC consultations at an early date, Li said, adding that China will positively consider convening face-to-face consultations in China, as soon as the COVID-19 situation allows, to advance the second reading of the COC.

China on Saturday encouraged WTO members to safeguard multilateral trade and jointly build an open global economy.

China provided the first shipment of materials and equipment on Wednesday as urgent assistance to the Philippines, Wang said.