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The remarks come as the company announces plans to spin off its DVD mail order business under the name of Qwikster.

The report said the uptrend is the result of rising demand for labor and a decline in the number of job applicants.

The report issued by think tanks which include the Chinese Academy of Social Sciences said the COVID-19 pandemic has exerted a deep influence on the global healthcare system. In addition to the achievements gained in epidemic prevention and control, the country is enhancing its capabilities with the help of internet healthcare.

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The report forecast that in 2018, Chinese companies will continue to acquire businesses in the countries and regions involved in the initiative.

The report predicted that up to 12 percent of all retail sales will be settled through mobile payments by 2020(up from 8 percent in 2015), other online payments will account for 16 percent (up from 9 percent in 2015), about 30 percent will be by cash (down from 61 percent in 2010) and debit or credit card payments will account for 41 percent.

The report said 99 percent of the young consumers can repay borrowed money on time, partly also because the troves of consumer data through online transactions could help vendors screen out those with a bad credit history.

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The report said the phenomenon has pointed to the low efficiency of China's agricultural operations, calling for efforts to promote mechanization and improve rural governance.

The regulation, issued by the general offices of the CPC Central Committee and the State Council, was put into operation on Dec 5, 2017.

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The report also predicts that, because of lower production costs and more charging facilities, electric cars will start to surge in number from 2025 and around 2027, highly or even fully autonomous cars will become part of most people's daily lives.

The regulator will streamline sales procedure of asset management products, stressing information disclosure and authenticity check, and regulate cross-financing to ensure risk penetration and sufficient provision, Guo Shuqing, chairman of the CBRC, was quoted as saying.