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The ministry said it will continue to focus on policy implementation and the inclusion of social forces in the future.

The medium and small-sized banks can apply for the liquidity support by using qualified bonds, interbank negotiable certificates of deposit and bills as collateral.

The measure follows a .2 trillion package intended to boost the economy and the Federal Reserve's decision to slash interest rates and pump money into the economy. Additional stimulus measures are likely

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The meeting also urged that more high-quality assets be used in Public Private Partnerships (PPP) to attract a greater number of social investors, as well as using returns in such projects for new programs in infrastructure, public services, poverty alleviation, and the Made in China 2025 strategy, according to a statement after the meeting.

The ministry will steadfastly implement foreign trade policies to benefit market entities as soon as possible, he said, adding that more measures will be taken to promote the export of daily necessities, increase imports and encourage export companies to tap the domestic market.

The meeting demanded the country to establish a medium- and long-term coordination mechanism for COVID-19 control and economic and social development, keep its strategies in restructuring, rely on technological innovation, improve cross-cyclical macro-control design and regulations, and realize long-term balance between growth stability and risk control.

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The ministers agreed to strengthen mutual trust in military affairs, conduct more exchanges and deepen pragmatic cooperation in an effort to build a community of common destiny and a fair, and stable multipolar world, according to the statement.

The ministry made the remarks after Canberra announced recently that it will change its foreign investment rules. Under this move, Australia's Foreign Investment Review Board would have to approve all investments in "sensitive national security business", regardless of the value of the deal.

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The media likes the word "trap", the "Thucydides trap", the "Kindleberger trap" and the "middle income trap". In our view, it represents a rather pessimistic perspective. We Chinese always believe that there are more opportunities than challenges, and more solutions than problems. Even in crisis, there lies opportunities. Being optimistic is important, which is also true when it comes to the debt problem. For those countries that are grappling with debts, once they pull it through, their economy may face a bright outlook. China was also financially stripped at some point in the past. But we dealt with it and made progress in our development. It is not realistic to expect a happy life to fall into your lap without working hard for it and taking risks, including taking on some debt in this case.

The ministry has piloted dismantling 15 concrete tollgates on provincial borders in three provinces -- Jiangsu, Shandong and Sichuan – as well as the municipality of Chongqing. Time to pass was greatly reduced from 15 seconds to two seconds for passenger vehicles and from 29 seconds to three seconds for freight vehicles.