The report also said that China faces a major challenge in balancing growth stabilization and economic restructuring this year. "The government has had to repeatedly rely on investment and monetary supply increases to achieve its pre-set growth target," it said. "This year, China will still have to balance achieving the growth target, restructuring and reform, and it will become more challenging and difficult."
The report said that it remained to be seen if the new measures would materially increase land supply within the next six to 12 months in high-tier cities that have less than six months of inventory, given the limited supply of land suitable for development and the relatively long time frame for redeveloping shantytowns.
The regulation also requires government at all levels to set up emergency rescue headquarters to direct diverse operations and to coordinate efforts by different governmental bodies, Zhang said.
The regulation specifies how to control soil loss, increase the density of organic matter, and preserve the moisture and fertility of the soil.
The report showed that the sectors of cloud gaming and e-sports are booming amid technological upgrades across the country, with their actual sales revenue registering a year-on-year growth of 79.35 percent and 54.69 percent, respectively.
The remark came after United States Vice President Mike Pence commented on Hong Kong affairs when addressing the Detroit Economic Club on Monday, threatening that it would be harder for Washington to make a trade deal with Beijing if there was violence in the region.
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The relationship breakdown was ignited by San Francisco's acceptance early this year of a donated memorial of a "comfort woman" - a sex slave in wartime Japan -- according to Yoshimura.
The remarks came after the Standing Committee of the National People's Congress decided on Tuesday to let the sixth Legislative Council of Hong Kong Special Administrative Region continue performing duties for no less than a year until the seventh LegCo starts its four-year term. The election was originally scheduled for Sept 6, before it was postponed because of the COVID-19 pandemic.
The report highlights the following for the NPC Standing Committee's main tasks for the coming months:
The regulator will also study the integration of oil refining businesses.