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"China has made positive progress in strengthening its financial regulatory system and resolving financial risks since the Party's 19th National Congress in October under the leadership of the CPC Central Committee, with Xi Jinping, general secretary of the committee, at the core," he told a special consultative meeting of the Chinese People's Political Consultative Conference, the country's top political advisory body.

"COVID-19 is a global problem, and therefore it is a problem for all countries," he said.

"China excels in absorbing foreign cutting-edge technologies and reinnovating them to accelerate commercial applications in the local market," Zhang said. "Such strength will help make multilateral cooperation a success."

"China expressed concern over the grave US trade protectionist tendency in steel products," Wang Hejun, head of China's Ministry of Commerce Trade Remedy and Investigation Bureau, said in a statement posted on the ministry's website.

"China has effectively controlled the spread of the pandemic and is actively promoting work and production resumption, becoming a key driving force in boosting the global economic resurgence," Li said.