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The report also showed China's rapid development in green energy.

The report said China's FMCG growth reached 5.5 percent year-on-year in 2019, while the pandemic has dragged the rate to a negative 6.7 percent for the first quarter of this year.

The region's small and medium-sized businesses are also looking to break into Asian markets, especially China, said Alejandro Salcedo, head of the Mexican chapter of the Latin American Association of Micro, Small and Medium-Sized Businesses.

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The report showed that "prosperous" zip code areas have gained 3.6 million jobs from 2007 to 2016, which was more than the bottom 80 percent of zip code areas combined, said the report.

The regulations, said to be the first of their kind in China, prohibit adults from beating or scolding child models.

The report attributes this significant increase in wealth to a synchronized upturn in the world economy and climbing equity markets.

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The report proposed 158 reform measures and clarified important reform areas and key sections, including supply-side structural reform, which prioritizes improving the quality of the supply system.

The regulators include the Hong Kong Securities and Futures Commission, the Dubai Financial Services Authority and the Monetary Authority of Singapore.

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The region has spent more than 146.3 billion yuan ( billion) in fixed-asset investment in transportation infrastructure over the past five years, an average annual growth of 47.3 percent.

The report said competition in the property sector will focus more on comprehensive capability in products and operation.