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China is speeding up reforms in the financial sector and focusing on solving the problem of small and micro enterprises finding it tough and expensive to access financing, according to this year's government work report.

China is the world's largest auto market and also one of the fastest-growing NEV markets, thanks to the government's preferential policies to boost clean energy use to curb pollution.

China is fully capable and confident in winning the battle against the epidemic caused by the novel coronavirus and has the confidence to minimize the impact on the economy, he said, adding the impact is temporary and will not change the economy’s long-term fundamentals.

China has submitted the seventh bidding list for accession to the Agreement on Government Procurement (GPA) of the World Trade Organization, adding the military department to the list for the first time, per a statement the Ministry of Finance released on its website on Monday.

China has shifted away from pursuing breakneck expansion to facilitate further reforms as the government trimmed this year's growth goal to around 6.5 percent from a range of 6.5 to 7 percent for 2016.