The country's 5G network construction and some companies' rush to stock up on integrated circuits also contributed to the increase in imports, he added.
The cooperation memorandum, signed among local authorities, marked a fresh step taken to further boost regional integration, said Zhang Ying, chief engineer of the Shanghai Commission of Economy and Information Technology.
The country is expected to build a globally competitive automotive industry within 10 years, with new energy vehicles one of its top priorities, according to an industry guideline released in April.
The country will stick to the principle that "housing is for living in, not speculation" and implement a long-term management and regulation mechanism in 2020, according to the annual Central Economic Work Conference held in December 2019.
The convicts intentionally distorted the country's targeted policy to eradicate poverty under the guise of helping the poor and building a so-called "new economic ecological model". They enticed people to take part in pyramid sales by promising high returns and cheated them out of huge amounts of property, according to previous reports by the Xinhua News Agency.
The country produced 28.59 million tonnes of "early rice," planted in spring and harvested in early summer. This was a decrease of more than 1 million tonnes, or 4.3 percent from a year earlier, according to the National Bureau of Statistics (NBS).
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The country will pursue a prudent monetary policy in a more flexible and appropriate way, and encourage financial institutions to enhance support for the real economy, especially small and micro companies as well as private firms, the central bank said last month.
The cooperation includes the air transport market expanding, operation support, operation information sharing, tourism business and financial investment.
The country encourages financial institutions to conduct research and development in green stock and bond indices and related products and welcomes fund management institutions to develop fund products based on the green indices to meet investors' demand, he said.
The coronavirus pandemic has ended a decade of US economic expansion, but the Federal Reserve pledged on Wednesday to use every tool it has to help fuel a recovery.