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China will accelerate efforts to develop advanced manufacturing and strengthen its innovation and competitiveness, while renovating and upgrading traditional industries, said Miao Wei, minister of industry and information technology.

China stands ready to further improve the level of economic integration with the Association of Southeast Asian Nations with joint efforts to enable the signing of the Regional Comprehensive Economic Partnership this year, State Councilor and Foreign Minister Wang Yi said on Sunday.

China said it has insisted on promoting the work and production resumption in the process of expanding opening-up. Since the second quarter of this year, China's economic performance has improved month by month, with production demand continuing to pick up.

China stands ready to work with Singapore to strengthen what they have achieved in the fight against the COVID-19, further promote the high-quality joint development of the Belt and Road and build the New International Land-Sea Trade Corridor, a joint project of western Chinese provincial regions and Singapore under the government-to-government framework of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity.

China reduced its holdings of US treasuries to a seven-month low in January, amid concerns that the world's largest bond market might suffer headwinds from impending interest rate increases.