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The region plans to attract 300 million tourism visits annually by 2020. The money spent by tourists is expected to surpass 1 trillion yuan (5.7 billion), more than 5.4 times that in 2017, said Hou Hanmin, Party chief of the regional tourism development commission.

The report said Chinese consumers have a high awareness of drinking milk, and they recognize its importance and benefits, yet many people have not formed a good habit of drinking enough milk.

The report found that among some 30,000 urban families surveyed, the wealthiest 20 percent owned 63 percent of the total assets, compared with just 2.6 percent by the poorest 20 percent.

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The report is part of a series of blue books on Shanghai's cultural development. It was also published by the SASS on Thursday.

The report also said that 19 percent of the respondents spent more than 1.5 hours online per day on average. Listening to music, playing games, chatting and searching for files were their main online activities.

The regulator also urged banks to directly provide financing to upstream and downstream enterprises in the supply chain based on real transactions, such as offering suppliers with accounts receivable financing, which allows companies to receive early payments on their outstanding invoices. Banks are also encouraged to provide downstream enterprises with loans pledged by warehouse receipts or inventory, in addition to offering advance payment financing based on orders, she said.

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The report speculates on China's intention of development and plays up the threat of China's nuclear strength, said Ren Guoqiang, National Defense Ministry spokesman.

The renovation of old urban residential communities, a major program in boosting public livelihoods and development, has been in line with public aspirations, a statement released after the meeting said.

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The regulation can help strictly check military expenditure and reduce financial malpractices in the military, according to sources with the General Logistics Department of the CMC.

The report said the level of trade in the area grew 5.85 percent last year according to the Qianhai & Shekou FTA Trade Facilitation Index, which rose to 0.8515 from 0.8044 in 2015.