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China aims to eradicate poverty by 2020, the target year to finish building a moderately prosperous society in all respects.

China also ranks first in terms of market size based on per-capita purchasing power parity, the report shows. The United States is the most competitive nation in the world for the first time in a decade, followed by Singapore and Germany. Switzerland, which ranks fourth on the list, was No 1 last year. Nearly 90 percent of the top 30 are developed economies in Asia and Europe.

China Railway Corp investigated some tunnels in the Guizhou section of the Shanghai-Kunming high-speed railway and found some serious problems, such as fake construction materials, said a netizen called "Headlines in Guizhou" on Sina Weibo, a Chinese Twitter-like service, on Monday.

China Yongda Automobiles Service Holdings, which specializes in automobile sales services, financing and rentals made great progress in used car sector last year.

China aims to establish an integrated nationwide cargo clearance system and plans to cut cargo clearance times by one-third by the end of this year, the guideline said. The application of information technology and logistics standards, including vehicles and loads, will play a major part.