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Water projects under construction had all resumed work and production by the end of April and are currently in smooth progress, said the Ministry of Water Resources.

The State Council executive meeting on Tuesday stressed efforts to ensure that the 2-trillion-yuan (about 282.2 billion U.S. dollars) newly increased fiscal funds will directly benefit businesses and people.

Wang said that China and Ethiopia are good friends and partners.

China will also strengthen financial support to promote the scale of industrial agglomeration and enhance the industrial competitiveness of major industries in Hainan, as well as innovating and developing trade finance, consumer finance, green finance and technology finance.

The ministry will urge relevant departments to formulate detailed rules to implement the policies as soon as possible, and ask local governments to introduce SMEs-boosting policies based on their specific conditions, according to Miao.