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He added that reform of central SOEs in the past five years kicked off when these SOEs were faced with a variety of obstacles. China's supply-side reform in recent years has adjusted the economic structure and tackled low efficiency, and has successfully helped develop new sources of growth for central SOEs through market forces.

He added the time to act is right now to make sure vulnerable children and families are included in the pandemic response and recovery.

He also said seven local enterprises have set up 17 warehouses in foreign countries and regions, including the US, Russia, Germany and Spain.

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He added that a decision to replace cash with digital renminbi should be a market choice, rather than the result of an order issued by the government.

He also expressed optimism concerning the future of bilateral relations, regarding the multiple opportunities, particularly in the industrial, technological, agricultural and tourism fields.

He Lifeng, minister of the National Development and Reform Commission, made the remarks at a press conference on the sidelines of the ongoing annual session of the National People's Congress, China's top legislature.

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He also said the central government had decided to invest 138 billion yuan to enhance flood control facilities on another 47,000 kilometers of rivers from 2016 to 2020, after floods last year inflicted great losses.

He Lifeng, minister of the National Development and Reform Commission, said the NDRC plans to strengthen policy support to shore up growth, with a focus to be put on upgrading the manufacturing sector and supporting infrastructure growth.

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He appeared via video handcuffed and seated, wearing a grey prison t-shirt. He listened calmly throughout the hearing, which lasted roughly 20 minutes.

He added that the central bank would not hesitate to adjust its balance sheet reduction plan if it causes problems in the markets.