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As for the pandemic, the president stressed that death rates from the virus are going down, though experts fear they will begin to go back up soon. He also repeated his claim that the surge of new cases is a result of increased testing, while signaling that there might be political motives behind decisions to keep schools closed.

As central authorities have made curbing financial risks an economic priority, SASAC has put the capital structure, financing leverage, investment and risk of central SOEs under greater scrutiny in recent years.

As friends of both India and Pakistan, China hopes the two sides could exercise restraint to avoid escalations of the tensions, and make joint efforts to safeguard regional peace through dialogues, he added.

As for the trade outlook in coming months, there will be more uncertainty in both global trade and financial markets because of the expanding list of goods subject to additional tariffs from both sides, said Sang Baichuan, a professor of international trade at the University of International Business and Economics in Beijing.

As a veteran news reporter with more than 10 years of experience covering political news, I have witnessed many big events, both domestically and internationally. But I have never seen a ceremony as grand and solemn as the one on Sunday recognizing individuals for their contributions to the nation.