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Finance authorities will make good use of the special bonds and guard against systemic risks, Liu said.

Against such a backdrop, cooperation is needed more than ever. The Chinese leadership has on many occasions stressed that the "dual circulation" is by no means a closed domestic loop and reaffirmed that opening up was a fundamental national policy.

"This flood battle is a practical test of the leadership and command system of our army, and the army's combat readiness and ability to perform the tasks," Xi said.

Those at the Wednesday meeting agreed that it is important to remove consumption-related bottlenecks to economic growth and encourage market players to embrace innovation, so as to further unleash the potential of domestic demand and inject impetus into economic recovery.

On June 12, the GAC announced carrying out pilot regulations for cross-border e-commerce business-to-business exports in 10 cities starting July 1, and offering enterprises simplified export declarations and paperless customs clearance, among other supportive measures.