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The regulator of State-owned enterprises vowed to further reduce SOE debt levels and continue mergers and acquisitions among SOEs. The moves are designed to optimize resource allocation and boost performance.

The remarks came as the city recorded triple-digit daily spikes in new cases for 12 consecutive days on Sunday. The case tally stood at 3,511 and 34 deaths.

The rental fee will be used for public services, such as infrastructure construction, Xiao said.

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The report said the four big State-owned banks, BOC, China Construction Bank (CCB), Agricultural Bank of China (ABC) and Industrial and Commercial Bank of China (ICBC) have proven to be more influential and better recognized globally than their peers from developing economies. The ICBC occupied the fifth spot, the report said.

The report also found that merchants would bear the full responsibility in such cases, and that e-commerce platforms do not bear joint liability for compensation since it is difficult for customers to present evidence that prove platform operators know their merchants are selling low-quality products.

The report said female gamers' passion is set to create a market worth 56.84 billion yuan (.85 billion) by 2020, buoyed by mobile internet expansion, booming social media usage and major online game companies' shift toward creating more games targeted at women.

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The report said that about 45 percent of them deliver over 20 orders a day and 40 percent travel over 50 kilometers, the length of Beijing's Fourth Ring Road. Furthermore, 35 percent of them earn a supplementary income in factories or at enterprises, in the public sector or by running their own businesses.

The report said the action "has weakened the ambition and joint efforts of the international community to tackle climate change, enlarged the deficit in global climate governance leadership, and brought complexity to the multilateral process of climate response."

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The report said Chinese companies prefer the greenfield strategy largely because it offers optimal managerial control over the business during its earliest days. By establishing a new business entity, companies are also more likely to receive tax credits, infrastructure improvements, and other inducements from local governments in the United States.

The report also found that WTO Members also implemented 128 measures aimed at facilitating trade, including eliminated or reduced tariffs and simplified customs procedures.