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China will phase in opening up of bank card clearing, remove restrictions on the operation scope of insurance agencies, and ease or cancel limits on foreign holdings in companies in banking, securities, funds, futures, and financial asset management.

China's auto market, hit hard by COVID-19, began to recover in April thanks to unleashed pent-up demand and supportive policies, with sales rising 4.4 percent year-on-year, ending a 21-month contraction streak, according to the China Association of Automobile Manufacturers.

China's Ambassador to Kenya Sun Baohong. [Photo by Liu Hongjie / chinadaily.com.cn]

China will continue with the policy which allows small and micro-sized businesses to postpone principal and interest repayments on inclusive loans in the first quarter of next year, and will extend the policy period appropriately, according to the meeting presided over by Premier Li Keqiang on Monday.

China will strengthen international cooperation in audit inspections and securities regulations while exploring more options to resolve the ongoing Sino-US audit impasse, senior officials said during the Annual Conference of Financial Street Forum 2020.