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The region's GDP reached 345 billion yuan (.3 billion) in 2017, more than 1,000 times what it was in 1958. Ningxia's per capita GDP in 2017 was 50,197 yuan, an increase of about 284 times over the past six decades, representing an average annual growth rate of 7 percent.

The report also noted that the rent prices in 50 cities saw 1.2-percent uptick quarter on quarter, with housing price up by 1.6 percent from one quarter earlier.

The report showed that the internet-based digital economy rose to 31.3 trillion yuan (.6 trillion) last year, up 20.9 percent year-on-year.

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The report says South Asia will remain the fastest growing of all subregions in Asia and the Pacific, despite a downward revision from previous projections from 6.7 percent to 6.5 percent in 2017, and is expected to pick up to 7 percent in 2018. GDP growth in India, the subregion's largest economy, is revised down to 6.7 percent in 2017 and 7.3 percent in 2018.

The report said that only 21 percent of college graduates last year chose to work in first-tier cities-Beijing, Shanghai, Guangzhou and Shenzhen-down 4 percentage points from 2014.

The regulation stresses serious investigation of problems and misconduct as well as punishment for violators or those held responsible.

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The regulatory framework remains fragmented, with too many agencies overseeing one sector, while the standards of regulation are not unified, he said.

The remarks came after US Secretary of State Mike Pompeo claimed on Wednesday that the Hong Kong Special Administrative Region no longer enjoys a high degree of autonomy from China, and threatened to revoke Hong Kong's special trade status with the US.

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The report says the region's economies received more than one-third of total global direct investment in 2019, while the region's global export share increased to 36.5 percent in 2019 from 28.4 percent in 2000.

The region's countries have opened more flights and expressways to connect to each other and continue to build railways and conduct feasibility studies for more links with China, Vietnam, Thailand and others. It's important for Laos to become a center of logistics, she said.