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The report also stated small-sized private funds have dominated China's private fund industry, with 95 percent of managers' AUM below 1 billion yuan.

The release noted that the life expectancy of Shanghai residents has been increasing steadily in recent years. In 2015, the figure was 82.75.

The regional communications administration said Monday that builders of local commercial and industrial parks are installing 5G equipment on existing 4G communication towers across the region. The method can save construction time, reduce costs and maximize the use of resources.

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The release also touts a highly skilled workforce and low-cost operating environment before throwing some big tech terms Amazon’s way: “strong regional competency in radio-frequency identification (RFID), sustainable packaging, flight controls, drone technology, high-performance computing, software development, and data analytics that will help our proposal stand out.”

The report acknowledged that China has been a leader in the global fintech revolution, "with new technology-driven providers transforming how Chinese consumers make payments, borrow, save, insure themselves against risk, and invest".

The report concluded that in a trade dispute " American farmers are the first casualty" and the tariffs described "are a tax on American farmers."

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The report also highlighted nine technologies that are the most promising and have the broadest application prospects in Asia, including artificial intelligence, 5G, industrial robots, intelligent supply chains and mobile payments.

The report also said the number of people engaged in the social commerce field is expected to reach 48.01 million in 2019, up 58.3 percent year-on-year. In addition, the tendency with regard to the integration of online and offline shopping channels will be strengthened, with diversified, personalized products favored by Chinese consumers.

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The report explained that as fallout from the virus results in delays, buyers may find new opportunities among sellers with a preference in completing transactions sooner rather than later, considering more competitive prices than previously. Despite the uncertainty in the market, there remains sufficient interest in the market from investors, who continue to hold confidence in the long-term outlook, as underlined by the strong sales volume in the first quarter.

The report is backed by three key players: the Game Publishers Association Publications Committee, which is part of the China Audio-Video and Digital Publishing Association; gaming database Gamma Data Corp; and International Data Corp.