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China's auto sector suffered a 79.1 percent year-on-year drop in sales in February and expects a fall of around 8 percent this year due to the pandemic, according to the China Passenger Car Association.

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 VR industry is expected to be worth 54.45 billion yuan ( billion) next year, with an annual growth rate of about 95.2 percent, according to a report from the China Center for Information Industry Development, a research institute affiliated with the ministry.

China will neither import foreign countries' development modes nor export its own mode to other nations, Xi said.

China's State Council earlier this year made public a guideline to support the economic transformation of Shanxi.