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China has managed to meet the basic living needs of more than 1.3 billion people, lifting more than 800 million out of poverty and creating more than 770 million jobs through the end of last year, according to Xian Weiyi, minister-counselor of China's mission to the EU.

China first opened a fast lane for key business, logistics, production, technical and service personnel with the ROK in May, before inking agreements on similar programs with countries including Singapore, France and Myanmar. The programs reduce a 14-day quarantine requirement for international travelers to just one or two days.

China has already shown its determination to put its foreign trade on a firmer footing, said Wei Jianguo, vice-president of the China Center for International Economic Exchanges. The country also has increased moves to accelerate the pace of its reform and opening-up, especially to further safeguard intellectual property rights, expand market access, increase imports from the US and make the business environment even more transparent and fairer, Wei said.

China has about 25 million private enterprises, with registered capital exceeding 150 trillion yuan (.7 trillion) and contributing more than half the country's taxes, according to the industry federation. These enterprises also contribute more than 60 percent of the nation's gross domestic product, fixed asset investment and outbound investment.

China had 169 million minor netizens in 2018 and the internet penetration rate was 93.7 percent, according to a report published on Tuesday.