The report predicted that technological breakthroughs made by AI in automated driving will bring about 500 billion yuan (.7 billion) of added value in China by 2030, and that the automotive sector will be among the most heavily influenced of the traditional industries.
The release of the report doesn't mean social unrest will end, Lam said, adding the government will continue to follow up police-related complaints and other controversial cases.
The remains of five more people were found Saturday, including four in the decimated town of Paradise and one in nearby Concow, bringing the number of dead to 76.
The report showed that just 7 percent of the companies polled had obtained independent assurance of their ESG data, of which only 45 percent had assured the whole report and the remainder only specific sections or data only.
The report noted that the "Internet Plus recycling" model failed to develop as anticipated, and a lack of investment could force some operators into bankruptcy.
The report projected that China will register a 1.8 percent growth in 2020, the only major economy to record a positive performance. The growth will jump to 8 percent in 2021 before slowing to 4.9 percent a year after.
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The regulator has also urged banks to step up the disposal of nonperforming loans and gradually expand the channels and methods of bad debt disposal. In the first quarter, commercial banks disposed of more than 450 billion yuan of bad loans, up by 81 billion yuan on a yearly basis, he said.
The report also raised its forecast for the global economy by 0.1 percentage point from its January projection. IMF Chief Economist Maurice Obstfeld said the improvement is due primarily to good economic news for Europe and Asia, and within Asia for China and Japan.
The regulation promises harsh disciplinary and legal punishment for wrongdoings.
The regulation, which took effect on Jan 1, epitomizes the efforts made by the State Council to reduce bureaucracy, enhance compliance oversight and improve government services.