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BEIJING, July 9 (Xinhua) -- A Chinese military spokesperson on Thursday refuted the accusations made by the U.S. Department of Defense over recent exercises conducted by the Chinese military in the South China Sea.

Alan Hoo, chairman of the Basic Law Institute in Hong Kong, said national security legislation is a state legislative power no matter a country adopts the unitary or federal system. National security laws can be found in both common law and continental law systems.

Enterprises, particularly smaller ones, have been hit hard by COVID-19, and the Chinese government pays close attention to helping them overcome the difficulty. Premier Li Keqiang pointed out that fiscal and financial measures should be fully employed to help small and micro businesses survive, and encouraged banks to step up support as companies strive to stay afloat.

He said the U.S. leader's letter is an attempt to mislead the public vaguely and to smear China, as well as shirking its own responsibility. This is nothing but a futile attempt, he added.

Direct economic losses amounted to 880 million yuan (about 124 million U.S. dollars), according to the ministry.