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Accommodating yet prudent regulatory approaches will be improved, and tourism safety monitoring and online complaint handling will be scaled up.

Jannie Rossouw, head of School of Economic and Business Sciences at the University of the Witwatersrand, said the summit is very important as it comes at a very difficult time and there are a number of issues like the pandemic affecting the globe and BRICS members.

Hua said the reciprocal sanctions were rolled out in view of the United States' serious interference in China's internal affairs and undermining China's core interests using Hong Kong-related issues.

The emergence of new business modes such as livestreaming has further boosted China's online consumption among stay-at-home customers in 2020, with retail sales over 8 trillion yuan (about 1.22 trillion U.S. dollars) in the first three quarters, up 9.7 percent year on year, according to the Ministry of Commerce (MOC).

He called for efforts to boost high-quality growth, foster a new development paradigm, coordinate epidemic control with economic and social development, ensure both development and security, and safeguard stable and sustained economic development, as well as social stability and harmony.