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China will extend tax exemptions for new energy vehicle purchases for another two years in a bid to boost consumption and stabilize the virus-hit economy, authorities announced on Wednesday.

China will further open its financial sector, reduce taxes and fees, and better protect intellectual property rights, Premier Li Keqiang told business, financial and think tank leaders during Summer Davos Forum in Tianjin on Thursday.

China's central State-owned enterprises saw their highest profit growth in five years as well as a drop in the ratio of liabilities compared with assets in the first quarter, the country's top SOE regulator said on Monday. The change was credited to the country's new round of reform and opening-up.

China will use various monetary policy tools to maintain sufficient liquidity, with the measures expected to be more precise and targeted to spur economic recovery and prevent risks in the financial system, the central bank governor said on Tuesday.

China would like to make joint efforts with all parties to safeguard multilateralism and deal with global challenges at the upcoming G20 summit to be attended by President Xi Jinping, a senior diplomat said Monday.