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China's FTZs have a proven track record in attracting foreign investment. In the first half of this year, the country's initial 12 FTZs attracted foreign investment of nearly 70 billion yuan ( billion), accounting for 14 percent of the country's total, said Vice-Minister of Commerce Wang Shouwen.

China will not forget the support from Italy when the country was at its hardest moment in the fight against the virus, Wang said, adding that China is now willing to stand firmly with the Italian people as well.

China's central bank raised the yuan's official central parity rate to 6.6102 per US dollar on Wednesday, the strongest level since mid-August 2016. Analysts, however, expect that the currency will not continue to rise as strongly in the coming months if the dollar rebounds.

China will firmly strengthen the combat readiness of its navy and air forces, enhance its defense ability, safeguard its national sovereignty and security, and maintain regional peace and stability, Wu said.

China's central bank is still in the process of developing its own digital currency, and competition among government-backed digitalized currencies can be expected in the "digital era", said a central bank official on Tuesday.