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The report showed steel prices slowly recovering. By the end of March, the China Steel Price Index reached 109.69 points, 2.4 percent up from the level at the start of this year. Steel prices had fallen rapidly in November, and only began to gradually rise in January.

The report found that as a result, young urbanites may not blindly chase big Western brands simply because they were well known, creating a more level playing field for small Chinese brands created by startups.

The regulator announced the punishment at a weekly news conference, on the same day the National Association of Financial Market Institutional Investors, or NAFMII, prohibited the firm from rating some types of credit products for a similar period, according to an announcement on its website.

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The regional cultural relics bureau said all the registered 6,510 cultural relics and the main building were intact.

The report said China's cloud computing, big data and Internet of Things markets grew to 90.7 billion yuan, 540.5 billion yuan and 1.2 trillion yuan, respectively, in 2018.

The report indicated that the entire global economy is experiencing a broad-based growth slowdown amid unresolved trade tensions, high international policy uncertainty and softening business confidence.

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The regulator reportedly stressed that banks should ensure that they acquire first-hand, original transaction data from the borrower and its partner that helps enhance its credit. Banks should also adhere to comprehensive risk surveillance by monitoring risks associated with not only the lead company in a supply chain, but also companies in the upstream and downstream of the supply chain, according to the CBIRC.

The remarks were made during the ongoing China International Import Expo in Shanghai, where the company showcased its key brands and popular products.

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The renovation of old urban residential communities, a major program in boosting public livelihoods and development, has been in line with public aspirations, a statement released after the meeting said.

The relic in the city of Wu'an features structures and designs similar to the 19 Great Wall sites found in the same area in 2007, suggesting that they belong to the same defense system, according to the city's cultural relics conservation bureau.