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China will focus on smart manufacturing by integrating the Made in China 2025 strategy and Internet Plus initiative with entrepreneurship and innovation to upgrade the country's traditional industries and help advance economic restructuring.

China's central bank supported a new action plan by G20 finance ministers and central bank governors to help small and medium-sized enterprises hit by the coronavirus pandemic, a statement said on Wednesday.

China's Internet healthcare market size was about 200 million yuan (.3 million ) in 2009, but soared to 22.3 billion yuan in 2016, and is estimated to exceed 90 billion yuan by 2020, according to a Sootoo Research Institute report.

China will merge the China Banking Regulatory Commission and the China Insurance Regulatory Commission to form a new organization that will more efficiently manage the two sectors, under a draft plan for State institutional reform released on Tuesday.

China will continue to tighten the supervision and prevent imported epidemics, Yu said.