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The regulation also fails to provide clear definitions of such key terms as "public security" "national interest" and "key technology," Zhao said.

The report noted that Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era shall be taken as a powerful theoretical weapon as well as a guide for action for graft busters, urging them to keep in alignment with the CPC Central Committee with Xi at the core.

The regulation underscored tougher punishments for food safety violators, adding a system to hold legal representatives and persons responsible to account, imposing fines of up to 10 times their annual income.

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The report said Chinese travelers prefer convenient and safer foreign destinations and the Philippines was among top 10 destinations for Chinese travelers in 2018.

The report speculated that by 2020, as many as 21 Indian cities could run out of groundwater; and by 2030, 40 percent of the country's population may have no access to drinking water.

The report found that compared with the past few years, Chinese tourists would like to explore local customs and reach out to local people, seeking unique and cultural experiences.

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The registration-based public offering system and the ongoing reform of ChiNext are crucial arrangements for deepening capital market reforms, optimizing the capital market's basic system, and improving capital market functions, said the plan.

The regulation is aimed at instructing local authorities to strengthen planning and ensure an effective supply of land for seniors' living facilities as a way of supporting the development of elderly care.

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The report noted that the huge potential given that US goods accounted for only about 8.4 percent of Chinese mainland's total imports in 2015, trailing European Union, Republic of Korea, Japan and Taiwan. The US had a 10-percent share in 2000.

The report confirms an idea first floated by Citigroup analysts last fall.