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The report showed that Chinese consumers want healthier, instant, and individualized goods.

The relatively higher growth rate in China－compared with an expected global rate of 4 percent－will continue to lead global economic growth, which could help some economies jump out of the deflation trap, according to Song.

The regulator emphasized that growth of this type of loan throughout 2019 should not be lower than growth of various types of loans, and the number of enterprises obtaining such loans should not be lower than that of the previous year.

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The regulations are expected to help legislative organs play a better role in expressing, balancing and adjusting social interests, said a statement from the Standing Committee of the National People's Congress.

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 regional bank said it currently controls about 60 percent of e-commerce transactions in the East African region.

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The region's increasingly close interactions and cooperation with the mainland have "injected strong impetus to its development" said Huang, while stressing that the region has kept its distinct features and strengths.

The regulations are expected to help legislative organs play a better role in expressing, balancing and adjusting social interests, said a statement from the Standing Committee of the National People's Congress.

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The report is based on data of Alibaba's 10-plus online platforms including Tmall, Taobao and Alipay.

The report included a pair of dueling charts showing the market capitalization leaders today versus five years ago, and tech companies?dominate the rankings in 2017. The top five most valuable companies by this metric are a who’s who of tech giants: Apple, Google-Alphabet, Microsoft, Amazon and Facebook. Add in Chinese tech giants Tencent and Alibaba, and tech makes up 70 percent of the top 10 last of most valuable companies by market cap.