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The Philippine side knows well that China is a big country that is willing to help its neighbors to prosper while advancing towards its own prosperity, he added.

"Keeping employment stable is our top priority this year. And smaller firms are crucial in providing employment. Related departments must work in synergy to support these firms," Li said.

XI'AN, April 23 (Xinhua) -- Chinese President Xi Jinping has urged efforts to overcome the negative impact of the COVID-19 epidemic to ensure the country reaches its goals in poverty alleviation and the building of a moderately prosperous society in all respects.

He also emphasized the importance of resolving conflicts and disputes related to the epidemic prevention and control and called for severe punishment on prominent criminal activities in accordance with the law.

The meeting called for an increase of one trillion yuan over the previous year in the net financing from corporate credit-backed bonds to expand low-cost financing channels for private and smaller businesses.