The Politburo Standing Committee said the national emergency management system had to improve.
A crackdown on wildlife markets, where the virus emerged, has been ordered.
There are more than 17,000 confirmed cases in China, with 361 deaths, and more than 150 in other countries, with one death in the Philippines.
The number of deaths in China, excluding Hong Kong, now exceeds the 349 killed on the mainland in the Severe Acute Respiratory Syndrome (SARS) outbreak of 2002-03.
The new coronavirus causes severe acute respiratory infection and symptoms usually start with a fever, followed by a dry cough.
The outbreak took its toll on Chinese shares when financial markets reopened on Monday following the Lunar New Year holiday. The Shanghai Composite index closed nearly 8% lower, its biggest daily drop for more than four years.
Reports of the standing committee meeting, chaired by President Xi Jinping, were carried by the official Xinhua news agency.
It said lessons had to be learned from what had been a "big test" of China's governance system.
"In response to the shortcomings and deficiencies that were exposed responding to this epidemic, we must improve our national emergency management system and improve our abilities in handling urgent and dangerous tasks," the report said.
One area to be tackled is the trade in illegal wildlife, which should be "resolutely banned", while supervision of markets should be strengthened.