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Li also stressed the need to foster a new economy and new growth engines by encouraging entrepreneurship and innovation, and promised to grant stronger support to small and medium-sized banks delivering direct services to small and micro-enterprises.

The seven-day Spring Festival vacation, scheduled to end on Jan. 30, was extended to Feb. 2. Universities, primary and middle schools and kindergartens across the country will postpone the opening of the spring semester until further notice, according to the General Office of the State Council.

The Chinese side hopes the ASEAN Secretariat will continue to lead and coordinate ASEAN to firmly pursue China-friendly policies, and play an active role in pushing the Regional Comprehensive Economic Partnership (RCEP) to be signed as scheduled, he added.

Overall financing costs of inclusive financing services for small businesses will be lowered by another 0.5 percentage points this year, while the country's five largest banks are expected to see their inclusive loans to small firms grow by over 20 percent year on year.

He expressed confidence that today's young people in Macao will grow into "a capable generation whom we are proud of" and become the backbone of both Macao and the country.