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At a time when the COVID-19 pandemic has thrown the world into a recession, experts noted that China's positions of upholding multilateralism, promoting globalization, and building an open world economy are of great significance to reviving the global economy.

Meanwhile, a residential compound in Pidu District was classified as a medium-risk area for COVID-19 starting from 9 p.m. on Friday.

Commercial endowment insurance, which serves as the third pillar of China's pension system, will be put under unified standards and regulations, and its development will be stepped up. The protection function of commercial endowment insurance shall be intensified. Endowment insurance featuring convenient application, flexible payment and relatively stable earnings shall be supported, and pension annuity insurance products actively developed. The insurance sector is encouraged to participate in a pilot insurance scheme for long-term care.

"If some in Australia cannot stand this graphic, then the truth depicted in online photos and videos can only be described as even more horrific," Hua said.

The draft regulations on preventing and handling illegal fundraising stipulates that provincial-level government should take overall responsibility for relevant work in their administrative regions, while setting strict rules on the consequences for those participating in illegal fundraising.