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Wang expounded on China's thoughts in front of dozens of the former heads of state and government and leaders of international organizations, and several experts and business leaders.

Wang Lei, president of Alibaba's local services company, said the novel coronavirus outbreak has greatly accelerated the digitalization push of the local services industry, vowing they will provide merchants with more traffic, a lower commission and better service.

Wang said realizing sustained world peace and common development must adhere to win-win cooperation in keeping with the principles of wide consultation, joint contributions and shared benefits.

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Wang Yanhui, secretary-general of the Mobile China Alliance, said Huawei is a patent giant in the global market, and has been planning to collect copyright fees from domestic and foreign telecom companies.

Wang also said that 17+1 cooperation had entered a period of upgrading, and he hoped that the Beijing summit next year could find more synergy with the Belt and Road Initiative; the EU-Asia Connectivity strategy; the Three Seas Initiative (Baltic, Adriatic Black Sea Initiative) and the development strategies of central and eastern European nations.

Wang said that domestic structural reforms are more important than before to help support China's long-term growth as external conditions are becoming increasingly challenging.

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Wang Xiaochuan: Chinese internet companies are taking a leading position around the world, not only in providing technologies to support their users but in offering novel business models.

Wang Yi, director-general of the finance department at the ministry, introduced some basic principles for running the national financing guarantee fund at a media briefing on March 30. He highlighted that the fund should neither be used for issuance business for local government bonds, nor be invested into the property and stock markets.

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Wang Xin, chairman of Hongda Hi-tech Group Co Ltd and a member of the 13th CPPCC National Committee, poses for a photo during the two sessions on March 5. [Photo byZou Hong/China Daily]

Wang Xiaodong in Beijing and Zhao Huanxin in Washington contributed to this story.