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The report showed steel prices slowly recovering. By the end of March, the China Steel Price Index reached 109.69 points, 2.4 percent up from the level at the start of this year. Steel prices had fallen rapidly in November, and only began to gradually rise in January.

The report said a property dispute was behind the shooting.

The regulations follow rules announced by the China Banking and Insurance Regulatory Commission earlier governing various aspects of banking, ranging from equity management for commercial banks to the management of entrusted loans.

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The report said education and training for Party members were improved last year. The number of Party members who received training last year increased by 24.3 percent fromthe previous year.

The report predicted that infrastructure development can be uneven across several regions this year. Southeast Asia will maintain strong momentum in infrastructure development and ranks first among seven regions for the third consecutive year.

The report estimated that internet companies, led by Baidu, Alibaba, and Tencent, will play pivotal roles in outbound investment, transforming "Made in China" from cheap commodities to innovative products.

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The report shows that 77.6 percent of minor netizens have their own internet access devices, and 69.7 percent have mobile phones. Data shows 52.2 percent connected to the internet less than one hour a day, and 24.2 percent between 1 and 2 hours.

The report expects IPOs on the A-share market to pick up pace in 2019 as China may launch a science and technology innovation board on the Shanghai Stock Exchange and experiment with a registration-based IPO system.

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The regional economic momentum was driven by robust domestic demand and a gradual recovery in the global economy and commodity prices, the World Bank said in a report titled "East Asia and Pacific Economic Update."

The report said improving external demand has allowed the region to build up buffers further against potential external shocks. "Regional exchange rates have become more flexible in recent years, and have played a greater role as a shock absorber," the report said.