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"By holding the summit, we are expecting to boost the development of Qinghai and its neighboring areas, and promote the implementation of the country's strategy of developing the west," said Gao Yunlong, chairman of the All-China Federation of Industry and Commerce, organizer of the summit.

"China adamantly opposes the US deploying intermediate missiles in Asia," Ren said, adding that such actions will damage the security interests of Asian countries and undermine peace and security in the region.

"ChiNext-listed companies are going to benefit the most from the new rules. According to a rough estimate, the removal of the profitability requirement will make at least 125 ChiNext-listed companies eligible for refinancing and the removal of the debt-to-asset ratio requirement will make 535 of them qualified for share sales," Ma Tingting, an analyst from Guosheng Securities, said in a research note.

"COVID-19 dwarfs anything that we've faced in recent history, and it isn't showing any signs of slowing down," said Biden, adding that the virus, which has now killed more than 223,000 people nationwide, "is surging in almost every state."

"China never has and never will ask relevant countries to use natural resources as security for a loan. China's aid and support to the Philippines have no strings attached," Geng said.