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The city has also cultivated business connections with more than 210 countries and regions. And according to Yiwu customs, 1.08 million TEUs of goods were exported from Yiwu in 2018, up 15.9 percent, accounting for one-seventh of the containers leaving the Ningbo-Zhoushan Port in Ningbo, another city in Zhejiang province.

The city expects to build 798 kilometers of bicycle lanes, along with other walkways, as part of its urban greenway construction plan.

The city said it will continue to attach great importance to the prevention and control of the epidemic while making coordinated efforts to promote economic and social development.

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The central bank has indicated that it will continue to deploy structural policy tools, including relending and rediscount programs, to support smaller businesses and secure sufficient jobs. It expects full-year renminbi-denominated loans to rise to 20 trillion yuan (.04 trillion) this year, compared with 16.81 trillion yuan in 2019, while total social financing may reach 30 trillion yuan or more, indicating stronger support to the real economy.

The changes were made to promote the reform of streamlining administration and delegating power, improving regulation and upgrading services, said the decree.

The central bank set up a research team six years ago to explore the possibility of launching a digital currency to cut the cost of circulating paper money and boost policymakers' control over money supply.

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The central bank is assessing the impact of the epidemic and preparing policy tools accordingly, and specific measures include targeted reserve requirement ratio cuts and lowering real lending rates, he added.

The city competition for talents in China heats up, as an increasing number of cities offer favorable housing policies to attract residents.

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The central government is striving to build a nationwide social credit system based upon municipal and provincial-level data, according to the commission.

The city has already established regular science and technology exchange programs with New Zealand, Belarus, Australia and Ukraine, according to the Guangzhou Science Technology and Innovation Commission.