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The fund was officially inaugurated during the 5th Summit of China and Central and Eastern European Countries held in November 2016 in Riga, Latvia.

The government has also taken a slew of measures to encourage traditional manufacturers to revamp themselves with new technologies, Hu said. For instance, the government and industry leaders co-founded institutes providing smaller manufacturers with services that facilitate industrial upgrade, such as consultancy and technology development. Policy support has also been stepped up, such as granting bonuses to manufacturers purchasing intelligent equipment.

The general PMI output index for July reached 53.6, down from 54.4 in June, indicating steady but slower production and operation activity expansion for the country's enterprises.

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The fourth and final aspect is, enterprises still face pressure to reduce their unsold products. The total inventory value of finished products for industrial enterprises jumped by 9 percent year-on-year in May, compared with a 14.9-percent increase in March, but is still at a high level compared with historical data.

The free trade zones have made a lot of progress promoting new growth momentum in the past few years by adhering to improving government services and streamlining administration, the premier said at the meeting.

The government still has ample means and capabilities for macro regulation and will help to foster a stable environment for development, Li said, adding that China has full confidence and ability in overcoming challenges and maintaining steady and sound economic development.

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The global sales volume of new energy vehicles reached 1.12 million in the first half of 2019, up 47.4 percent year-on-year, according to EVSales, a US website that tracks sales of new energy vehicles.

The government provides a special payment to women when they give birth, while employers pay their salaries during maternity leave.

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The government will make a big push to help companies encountering major difficulties amid the outbreak, he said. It also will help resolve problems companies are facing during such an extremely hard time, including tight funding, falling orders and rising risks in industrial and supply chains.

The government also pledged to create a social atmosphere conducive to political reform. This is so it can promote constitutional development in accordance with the Basic Law and relevant decisions by the Standing Committee of the National People's Congress, the spokesman said.