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China's cabinet-level committee to oversee financial stability is able to play a key role in coordinating policymaking, according to Huang.
China will not resort to massive economic stimulus to boost growth, but will continue to open up and innovate to energize market players, Li said.
China will set up a special transfer payment mechanism to ensure that newly increased fiscal funds this year will directly benefit businesses and people. A host of related arrangements were given a green light on Tuesday at the State Council's executive meeting, chaired by Premier Li Keqiang.
China's A-share market rebounded for the second trading session in row on Wednesday, with the key Shanghai Composite Index rising by 1.25 percent to close at 2,818.09.
China's cabinet, the State Council, has sent a national work team to the disaster-hit area to guide relief work. Local governments have activated top-level emergency response procedures.
