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"Fiscal income may continue to drop in the second quarter, but the decline is decelerating along with the economic recovery," said Liu Jinyun, an official at the ministry who also disclosed that governments at all levels had spent about 145.2 billion yuan as of Sunday to contain the virus and its effects.

"For financial institutions, the most difficult thing is trying to figure out how to get better returns from their investment, how to change their culture, people and their mindset. The softer side is much more difficult for larger financial institutions. It had faced the challenge before and it will continue to be a challenge."

"Financial inclusion comes after financial literacy," he said.

"Greater efforts should be made in streamlining administration, enhancing compliance oversight and delivering better services to foster an internationally competitive business environment that provides equal treatment to domestic and foreign enterprises and stimulates the vitality of market entities and social creativity," he said.

"Guangzhou is strengthening its functions as a transportation hub, to connect the world closely."