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Securitization is the process of transforming illiquid assets, including outstanding loans and receivables, into securities, which frees up idle assets in the banking system.

The annual expo, and the business and investment summit between China and the Association of Southeast Asian Nations (ASEAN) will be held in Nanning, capital city of south China's Guangxi Zhuang Autonomous Region, Hua said.

The meeting also reviewed and approved in principle the consultation plan for 2021 and the agenda of the bi-weekly consultation sessions and online consultation sessions of the CPPCC National Committee.

By successfully convening the fifth plenary session of the 19th CPC Central Committee and leading China to make great achievements in the fight against COVID-19 and poverty as well as the economic and social development, the CPC fully demonstrates that the CPC Central Committee with Xi Jinping at its core upholds the "people-centered" development concept, which will benefit not only the Chinese people but also the people of the world, they said.

China will work to beef up follow-up support for relocated people to ensure that they can settle down, stay employed and steadily get rich, according to the meeting.