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China will maintain its determination to accelerate industrial upgrading, despite short-term challenges in the sprawling manufacturing sector, the nation's top industry regulator said on Friday.

China will use funds collected from tariffs charged on shipments from the United States to reduce the impact of US trade move on Chinese companies and their employees, the Ministry of Commerce announced late on Monday.

China will strengthen the coordination of financial regulation, stabilize the property market and prevent systemic financial risks, according to a statement issued after a top leadership meeting on Monday.

China will take strict preventive measures against terrorist activities this year and see them firmly stamped out, Premier Li Keqiang said in this year's Government Work Report.

China's State-owned energy giants are ramping up raw material supplies that are key to produce protective products against the novel coronavirus, to help ease the shortage of medical supplies.