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BEIJING, Nov. 20 (Xinhua) -- Chinese State Councilor and Foreign Minister Wang Yi said the Riyadh Summit will present an important opportunity to set the direction for improving global governance in the post-COVID era.

The government has rolled out a raft of macro-policy measures, including increased fiscal spending, tax reliefs, and lending rate and reserve requirement ratio cuts to stabilize industrial chains and employment.

Li said the most significant outcome of the central conference on work related to overall law-based governance was the establishment of Xi Jinping Thought on the Rule of Law, which serves as the fundamental guideline for overall law-based governance in China.

Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks at a gathering to honor model workers and exemplary individuals, stressing that China must closely rely on the working class to promote high-quality development.

"China has always been committed to international cooperation on vaccine development and has joined a number of multilateral initiatives such as WHO's Access to COVID-19 Tools Accelerator and COVAX. We will continue to engage in active discussions with all parties on international cooperation on vaccine development," Wang said.