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China's central bank has injected a net 160 billion yuan through open market operations last week, the most since the five days through May 19.

China's auto industry has recovered steadily from the COVID-19 epidemic due to the country's effective containment measures, which helped boost consumer sentiment.

China will introduce more regulatory measures to support businesses and ensure employment apart from increasing credit loans to smaller firms and promoting medium-to long-term lending to the manufacturing sector, the central bank said on Wednesday.

China will move faster to "put in place a housing system that ensures supply through multiple sources, provides support through multiple channels, and encourages both housing purchases and rentals", according to a statement issued after the meeting.

China will develop fair, high-quality education by promoting the integrated development of urban and rural compulsory education, significantly reducing the rural drop-out rate, moving faster to put an end to big class sizes in urban schools, and addressing the problem of heavy extracurricular burdens on primary and secondary school students, Li said.