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China has been closely cooperating with other countries and international organizations, such as the World Health Organization, in the fight against the novel coronavirus pandemic, which has effectively suppressed spread of the disease in some countries, said the report.

China has lifted more than 60 million people out of poverty in the past five years, with the poverty rate dropping from 10.2 percent to less than 4 percent.

China has been working hard to reduce the financing burden on small firms.

China called for Australia at the World Trade Organization to fulfill its obligations in line with the international organization's rules.

China has been revamping its massive State-owned businesses through mergers and acquisitions, industrial upgrading and innovation. In September, the central government launched its largest private equity fund, worth 350 billion yuan, to finance SOE restructuring.