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Global commodity funds have been visiting China to understand the latest developments, trading rules, expected changes in the country's oil supply and demand, and how funds could enter and exit the futures market, according a report in 21st Century Business Herald.

Gita Gopinath, chief economist for the International Monetary Fund, speaks during a media briefing during the 49th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan 24, 2019. [Photo/IC]

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Given the scope of the damage to labor markets, the report also warned that the overall size of the fiscal response in the region has been insufficient, especially in the region’s developing economies.

Geng also said China will deepen reforms, be more open, stick to multilateralism and free trade and work with all parties for an open world economy and its balanced, sustainable and inclusive development.

Generally speaking, Party chiefs of central government departments also serve as the agencies' executive chiefs. But the appointment of ministers needs approval from the National People's Congress, so the announcement of Party positions sometimes come first. The next meeting of the congress's standing committee is scheduled for late this month.

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Given the present circumstances of insufficient effective demand, to ensure GDP growth of more than 3 percent, China must boldly carry out expansionary fiscal policy, which should be supplemented by expansionary monetary policy.

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Gilead on Tuesday said it was in discussion with several companies, including generic drugmakers in India and Pakistan to produce remdesivir in large quantities.

Geng said China's financing support to Africa is mainly in infrastructure and production areas. "Chinese companies have built a lot of highways, railways, ports, airports and communication facilities, greatly improving Africa's economic development environment and helping Africa attract foreign investment."