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The report found that consumer preferences in smaller stores have had an impact on the market. The number of new department stores and shopping centers has drastically reduced. Small-sized retail stores have grown by 7.7 percent year-on-year.

The report said, however, that the trade dispute has raised some concerns about a contraction in shipping demand, as Chinese buyers realign their purchases of spot US LNG cargoes and replace them with LNG from sources closer to Chinese ports.

The relationship started in earnest in Feburary 2015 when the Industrial and Commercial Bank of China Limited (ICBC) acquired shares in Standard Bank's London-based Global Markets business.

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The report expects the growth in the services trade deficit to slow this year, and the country will activity expand imports. That will help to achieve a more balanced international payment account although risks are rising because of external shocks from trade and investment protectionism.

The reimbursement rate of China's serious disease insurance scheme, part of the public healthcare system, was increased to 60 percent in 2019.

The regulatory cooperation mechanism between the mainland and Hong Kong has also been improved in the MoU.

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The report said the sharing economy has entered a new stage where quality matters more than the speed at which it expands. In the next five years, its growth rate is expected to remain steady at 30 percent, slower than previously but signaling more sustainable development, it said.

The report said the post-1995 generation, who grew up in a comparatively wealthy era, have become the main customers of on-demand food delivery platforms. They prefer to order warm porridge at night, go to beauty salons to look after their skin, sing with their friends at KTVs, and play games at amusement arcades in spare time.

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The report also suggested to establish special institutions to supervise mortgage loans, in order to prevent risk contagion expanding from the banking sector to the whole financial system.

The report also found that income inequality remains very high in numerous countries, but there is evidence of noticeable improvements in some developing countries over the last decade.