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Li's statement was supported by data released by the National Bureau of Statistics, which showed that key indicators such as industry, retail and investment improved markedly in August.

The chip curbs offer a good opportunity for Chinese companies to work together to reconstruct the semiconductor sector.

China will take policy steps to boost new types of consumption by supporting new business forms and models, with a view to promoting economic recovery. The meeting also outlined plans to advance medical education in an innovative way to build a talent pool for protecting people's health.

Meeting reporters ahead of her weekly Executive Council meeting, Lam thanked about 6,000 medical professionals and 4,000 civil servants who are assisting with the testing.

As many products from poverty-stricken regions become available in September, a series of promotional activities will be introduced to set up sales counters and leverage online platforms to help tap into business opportunities.