Due to China's simultaneous efforts on promoting its reform and opening-up policy, inspiring vitality of market entities and advancing domestic growth powers, the country's economy has seen steady recovery, said Premier Li Keqiang in Beijing on Nov 24.

He made the remarks when talking about market entities at the fifth roundtable meeting with leaders of six international economic and financial institutions via video link.

The number of newly-added business entities saw a temporary decrease in the first quarter due to COVID-19, while China's continuous efforts on administrative reform brought an increase in the number starting in April, said Premier Li, adding that the current daily increase on average has surpassed that of last year.

He said this year's pandemic was a test for market entities, which insisted on non-stop production, reduced layoffs and carried out actions to help themselves, rather than stop working and waiting for government assistance. That is the achievement of China's reform and opening-up in more than 40 years, the Premier said.

Facing the pandemic, the strong resilience of market entities and the Chinese people are the most powerful support for China's economic fundamentals, and the biggest strength for coping with difficulties and challenges, said the Premier.