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Incentives will be put in place for local banks that provide inclusive loans for micro and small enterprises with a deferred repayment period of no less than six months. The incentives will remain at 1 percent of the loan principal.

Li stressed the need to expand two-way opening up and investment, stay committed to fostering an open world economy, and safeguard the smooth operation of global industrial and supply chains.

Wang made the remarks when addressing online a global thinktank meeting held by a Malaysian foreign policy association.

The statement highlighted the role of amending regulations on political work in the armed forces, noting that it could strengthen the Party's leadership over the military political work and promote the full implementation of the strategy of enhancing the military's political loyalty in the new era.

Xi also stressed that the cause of poverty reduction is facing severe challenges as the COVID-19 pandemic is raging across the world.