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The regulation, issued by the China Banking and Insurance Regulatory Commission, integrates and optimizes the administrative penalty procedures for the banking and insurance industries, and establishes the basic principles on which such penalties are based.

The release of frozen pork from reserves is part of China's efforts to keep the staple meat's supply and prices stable in the wake of the African swine fever outbreak that shook the market.

The remarks came as the global telecommunications industry is vying for a 5G-enabled world, while China is pioneering network construction and experimenting with cutting-edge applications, including remote 5G surgery and autonomous driving.

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The report said China will take a great leap towards mobile commerce by 2022, a global trend many other markets are following. In China, mobile shopping is now the fastest growing channel, predicted to see a compound annual growth rate of 12 percent over the next four years.

The remarkable competition had cities bidding against one another with government subsidies to lure the tech giant. Some experts believe Amazon leveraged its self-created sweepstakes primarily to get cities to hand over comprehensive data about potential locations for future, smaller Amazon sites.

The regional partnership is a proposed free trade agreement between the 10 members of the Association of Southeast Asian Nations and six other countries, including China, Japan and the ROK.

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The region’s housing market has been steadily heating up since Amazon revealed Northern Virginia as a winner of its ballyhooed HQ2 contest last November. That heating has escalated over the past few months.

The regulator said it will continue to uphold the underlying principle of pursuing progress while ensuring stability, and will further raise financial institutions' quality and efficiency to serve the real economy.

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The report also highlighted the importance of the Japan-US alliance, saying, "It is essential to develop necessary and sufficient defense capabilities qualitatively and quantitatively."

The region's GDP has soared from 174 million yuan in 1959 to more 160 billion yuan (.4 billion) in 2019. Annual disposable income per capita in Tibet reached 19,501 yuan in 2019.