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The report also raised its forecast for the global economy by 0.1 percentage point from its January projection. IMF Chief Economist Maurice Obstfeld said the improvement is due primarily to good economic news for Europe and Asia, and within Asia for China and Japan.

The report said electric buses from BYD accounted for 20 percent of the market in Europe and more than 60 percent in the United Kingdom in 2018. Those from Chinese brands were the most popular in South Korea.

The registration-based IPO system, which simplifies and shortens the previously lengthy approval process that companies had to go through before they were allowed to float shares on mainland stock markets, was first successfully tried out on Shanghai's new Nasdaq-style sci-tech board.

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The report said 14 people affiliated with the tragedy faced various criminal measures. Officials involved in the accident have also been transferred to discipline inspection and supervision departments for further investigation.

The report also gave Kuhn, author of bestseller "How China's Leaders Think," a sense of how confident the Chinese leader and the country are in socialism and their commitment to deepening reform and strengthening rule of law.

The regulation requires insurance companies to strengthen internal control and improve mechanisms to punish those involved in irregular related-party transactions.

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The report also evaluated central SOE efforts in environmental protection, community service and five other sectors based on research on 72 central SOEs, and covers eight case studies including China Communications Construction.

The report said several other factors have impacted upon investment levels. These include strong competition from Korean investors, the steady recovery of the pound against the renminbi, and the UK’s scheduled withdrawal from the European Union on March 29, 2019.

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The report says migrants in Beijing have purchased an estimated 1.2 million flats, while the stock of commercial flats in Beijing is around 5.5 million. Therefore, the migrants are having a considerable influence over the housing market in Beijing.

The report by PwC's Strategy& showed that in 2017, total research and development (R&D) spending by the Global Innovation 1000, the 1,000 largest global public companies by R&D spending, reached 1.8 billion, up by 11.4 percent.