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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 regulator will take banks' efforts to help small and private businesses resume production into consideration while evaluating the performance of banks. It will encourage banks to increase the proportion of credit loans and medium- to long-term loans to total loans and keep business financing costs at a reasonable level, in addition to urging banks to develop loan products for companies engaged in businesses that are seriously affected by the epidemic, such as wholesale and retail, catering, accommodation, culture and tourism.

The report said education and training for Party members were improved last year. The number of Party members who received training last year increased by 24.3 percent fromthe previous year.

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The remaining signatories of the nuclear deal met in Vienna on June 28, which Tehran called as a "last chance" to save the deal.

The report said the total brand value of Chinese banks grew by 28 percent to 7 billion, over 0 billion more than US banks.

The regulator will further control the risks of shadow banking and cross-market financial products by continuing to crack down on regulatory violations in the areas of interbank, wealth management and off-balance-sheet businesses.

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The report follows a deal by OPEC and Russia to sharply reduce production. Saudi Arabia and Russia sought to gain market share and flooded the market with oil, driving prices down.

The remote work software market remains unpenetrated in China, with less than 5 million remote workers in the country in 2018, according to Global Workplace Analytics. In contrast, over 80 percent of US businesses have adopted flexible working arrangements, giving rise to at least 30 million people working outside of the office terrain.

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The remarks came barely one month after the 19th National Congress of the Communist Party of China (CPC), where Xi reaffirmed China's commitment to a new form of international relations characterized by mutual respect, fairness, justice and win-win cooperation.

The report predicted Central Asia to grow to 3.1 percent in 2017 and 3.5 percent in 2018 "though individual economies are growing at significantly different rates."