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Li also called on governments to optimize polices in a timely manner, based on the needs of market entities and changing circumstances, while stabilizing market expectations, and taking targeted measures to help market entities overcome difficulties and improve people's livelihoods.

The government has rolled out a raft of macro-policy measures, including increased fiscal spending, tax reliefs, and lending rate and reserve requirement ratio cuts to stabilize industrial chains and employment.

Li stressed that China and the ROK have joined hands this year in fighting COVID-19, setting an example for international cooperation in the fight against the pandemic, and adding new connotations to the friendship between the two countries. He said that the two countries should actively promote cooperation in vaccine and drug development and use, and work together to control the pandemic.

Inactivated vaccines for emergency use include two inactivated vaccines developed by the China National Biotec Group, affiliated to Sinopharm, and one by Sinovac Biotech. They are all under international phase-3 clinical trials.

This important announcement once again demonstrated China's firm determination to further open up and was widely welcomed by the international community, Wang said.