The report also finds that COVID-19 has further widened the education gaps between rich and poor families in LAC.
The report also shows that the risk management is not yet mature, as most of cybersecurity teams of Chinese companies are still at the "passive risk response" stage.
The report said 6.39 percent of California's GDP comes from trade with China. However, an Assembly Joint Resolution (AJR) approved by the congress of the Golden State on Aug 31 indicated that California does more business with China than any other US state.
The report attributed the growth of online shoppers to increasing consumption in smaller cities and rural areas, expanding international online shopping business and new marketing models.
The regions have long been regarded as the major battlefields in the government's efforts to eradicate absolute poverty nationwide by the end of next year.
The report found that despite China's aging population, winning the love of millennial consumers is critical for brands to thrive. It also noted almost one new product is launched every three minutes in China in 2017, and consumers in China are facing cluttered shelves with new products trying to grab their attention.
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The relatives of victims killed by Australian troops during their mission pray at a tomb in Tirinkot, capital of Uruzgan, Afghanistan, Nov 22, 2020. [Photo/Xinhua]
The report projects Shanghai's GDP growth this year at 6.9 percent.
The reopening of parks and squares is part of an array of measures, including the opening of street shops and shopping malls for a limited time per day, as well as bars and restaurants, which are now authorized to operate until 5:00 pm local time.
The registration processes will be consolidated, and single-window interagency services will be made available.