The report also said the number of people engaged in the social commerce field is expected to reach 48.01 million in 2019, up 58.3 percent year-on-year. In addition, the tendency with regard to the integration of online and offline shopping channels will be strengthened, with diversified, personalized products favored by Chinese consumers.
The regulators raised the ratio for allocated insurance capital in equities to 20 percent in August 2010. It was further increased to 30 percent in July 2015.
The region's total installed capacity of power reached 3.32 million kilowatts currently. The region's current electricity consumption is 6.9 billion kilowatt-hours.
The regulator has given approval to foreign banks and insurers to establish nearly 100 institutions of various types in China since 2018.
The region has logged 1 million cases and recorded more than 50,000 deaths, with Brazil accounting for more than half of those cases and close to 60 percent of the fatalities.
The report also said at the initial stage of commercialization of 5G mobile networks, telecom carriers will carry out large-scale network construction. Revenue from the investment on network equipment will become the major source of economic output related to 5G.
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The regulation specifies the content that should be released by Party organizations at different levels.
The renewed free trade agreement, signed in 2017, took effect on Friday. According to it, China will gradually eliminate tariffs on some wood products from Chile within three years, and Chile will immediately eliminate tariffs on Chinese goods like textiles, clothing, home appliances and sugar products.
The region has long been developing solid ties and cooperation with China, Huang added, noting that over 1.25 million overseas Chinese live in the region and have long been cultivating friendship between US and China.
The report shows Chinese consumers' financial behavior needs improvement, particularly in terms of family expenditure planning and implementation, understanding of bills, credit card repayment and preparation for unexpected expenditures.