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The report showed business transaction volume in enterprise-level electronic commerce stood at 20.46 trillion yuan in 2019. Among these, digitalized procurement scale reached 590 billion yuan, up 64 percent year-on-year, becoming a fresh driving force in enterprise-level e-commerce development.

The regulators will strengthen areas of institutional weakness by increasing supervision of the shareholders of rural banking institutions, making detailed rules on shareholders' related party transactions, and pushing forward with equity trust, in addition to urging the rectification of problems, imposing severe punishment, and enhancing corporate governance capabilities of such institutions, said an official of the CBIRC.

The removal of Huawei equipment sooner than 2027 would lead to a further delay to roll-out and higher cost to the British economy, said the new report. The report, commissioned by Huawei, builds upon the government's own expectation of a 3-year delay to 5G roll-out.

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The report said that Kim and Wang discussed the issue of improving Pyongyang-Beijing relations and cooperation as well as the direction and outlook of situations on the Korean Peninsula.

The regulator said it will continue to uphold the underlying principle of pursuing progress while ensuring stability, and will further raise financial institutions' quality and efficiency to serve the real economy.

The report also showed that Shanghai FTZ has completed 98.99 percent of the tasks of experiment - the highest rate, while the completion rate for the second batch of FTZs in Guangdong province, Tianjin, and Fujian province exceeded 90 percent and the completion rate for the third batch of FTZs exceeded 70 percent as of the end of 2018.

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The report provides valuable theoretical guidance and decision-making references as it encourages G20 members to enhance their national innovation competitiveness, said Zhao Xinli, a fellow of International Eurasian Academy of Sciences.

The report said online sales of tickets accounted for more than 80 percent of the ticket revenue of China's cinemas.

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The report said BeiDou's farming applications have spread from Heilongjiang province to Beijing, Liaoning, Shanxi, Hubei and other provinces across China.

The report noted that gaming accounted for around 40 percent of the total pan-entertainment industry sales and reached 200 billion yuan in revenues last year. The gaming segment will gradually play a key role in the overall pan-entertainment market, it said.