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Noting that the Chinese economy has maintained high-quality stable growth and the newly added urban jobs have surpassed 13 million, Li said it was a hard-won achievement and pledged to ensure the full implementation of institutional tax cuts and the further optimization of the business environment this year to spur market vitality.

"It is very difficult to definitely estimate when the outbreak reaches its peak. But I think in one week or about 10 days, it will reach the climax and then there will be no large-scale increases," Zhong said.

Members of the Standing Committee of the Political Bureau of the CPC Central Committee Li Keqiang, Li Zhanshu, Wang Yang, Wang Huning and Han Zheng attended the meeting.

In 2019, China introduced uNPRecedented tax cuts and fee reductions. Newly added tax and fee cuts exceeded 2 trillion yuan (about 287 billion U.S. dollars), accounting for more than 2 percent of GDP and contributing about 0.8 percentage points of GDP growth.

"It is hoped that in the coming years, Macao will find its place in the Belt and Road Initiative and become an effective player in connecting friendly nations like Egypt, Africa and the Middle East to China in a manner that guarantees a win-win partnership ... on the way to eradicating poverty and implementing the (United Nations') 17 Sustainable Development Goals by 2030," said El-Zimaity.