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China had 285 billionaires with their total wealth reaching 6 billion in 2018, while the United States had 705 billionaires, the highest, with net worth of .013 trillion, said the report.

China can achieve its target of having about 1 million 5G base stations by the end of this year, despite the US government's latest curbs on Huawei Technologies Co, a national political adviser and renowned 5G expert said.

China has also tailored its policy measures to leave no one behind, which includes sending officials to villages to help the local people, organizing vocational training, providing small loans, facilitating resettlement of poor residents to better-off areas, and tapping the potential of e-commerce and tourism, Zhang said.

China has become the largest market for tourists in the world with the expansion of its middle and upper classes.

China has been the world's largest market for new energy vehicles since 2015. Last year, such cars accounted for 1.8 percent of total car sales in the country.