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Life is on hold for thousands living in tents and shelters in the Indonesian city hit by a powerful earthquake and tsunami.

Lian Ping,chief economist at Bank of Communications, said that the economy is unlikely to experience high inflation this year given that there has not been substantial rebound in demand, and the growth of credit supply has slowed.

Li said the city government is taking proactive measures to reduce such adverse effects. These include dispatching Party members and task forces to help people on the poverty list while infected by the novel coronavirus, making sure they receive get free treatment and raising the standard of stipend they receive.

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Li said he was outside the restaurant with some family members and villagers when the building's roof started to topple down. His wife was trapped inside and was killed.

Li said the difficulty for small and micro-sized businesses in getting financed should be overcome while costs should be reduced. Small businesses are the leading forces for maintaining stable employment, and the bank's support for small businesses is a way of investing in their own future, he said.

Li, who is a deputy to the 13th National People's Congress, said although the COVID-19 outbreak had an impact on the firm's overseas business in the first quarter, its television exports increased in April on a yearly basis. "The overall overseas business is expected to grow in the second quarter compared with the same period of last year. We are confident that this upward trend will continue in the second half of this year."

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Li's remarks follow the advice of the NPC Standing Committee, the country's top legislature, which deliberated on draft revisions to the law late last month.

Li said private businesses' flexibility in management has given them a special advantage in innovation. The government's latest expression of support for private businesses also made him optimistic.

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Li said the treaty enshrined the joint desire of the two countries to live in perpetual peace and friendship, and includes the concept that Japan should deeply reflect on its wartime acts and its adherence to the one-China policy.

Li said the system, combining upholding the CPC's leadership, ensuring that the people are the master of the country and ruling the country by law, fits well China's national conditions.