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Besides, the purchase of high-tech equipment and services by 330,000 enterprises which enjoy preferential tax policies on research and development rose 22.3 percent in the second quarter, pointing to companies' continuous investment in science and technology amid the COVID-19 fallout.

Bicycle and car sharing companies must set up special accounts supervised by banks to hold customers' deposits, under a regulation released by the Transport Ministry on Thursday.

Besides facilitating cross-border logistics, the cooperation agreement is also expected to boost the exports of small and medium-sized Spanish enterprises on AliExpress.

Benefiting from a strategic geographical location, Estonia can serve as an excellent gateway for China to enter the European market, she said. "I believe this is an extremely good opportunity for beneficial cooperation between our two countries because Estonia is tiny, but is still a steppingstone into the market."

Benedict Bingham, Country Director, PRC Resident Mission, ADB, maintained: "policy making in China has always been conscious of the need to avoid leaving the vulnerable behind. So, there has been a conscious effort to push reforms to expand opportunities, while also calibrating the speed of those reforms to avoid creating win-lose imbalances and complementing those reforms with reforms that brought expanded access to social services and education."