The regulation will go into effect on Sept 1 this year.
The report goes on to say that over 2.5 million square feet of space have been occupied by tech firms in the Seattle area in the past three quarters. This is having the impact of driving prices up.
The report said Xiongan will primarily serve as a new home for Beijing's "non-capital" functions, while driving the development of neighboring Hebei Province. With this primary goal, the new area should avoid a surge in population and sidestep the "big city disease" that Beijing is suffering now, the report noted.
The report by the All-China Journalists Association, said that social networks and news apps have become an increasingly important channel for people to obtain information.
The region offers tremendous opportunities for Chinese clean energy companies, especially in solar, wind and nuclear power, as the markets there are still developing zero-carbon sources, said Jacobelli.
The report predicted infrastructure development can be uneven across regions this year. Southeast Asia maintains strong momentum in infrastructure development and ranked first among the seven regions for the third consecutive year.
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The report shows that in 2017, China spent 6 billion on research and development, following closely behind US R&D expenditure of 9 billion.
The report said State-owned enterprises and private companies slowed down their pace of going abroad in the first quarter.
The report also said Kim was accompanied by his foreign minister Ri Yong-ho, defense minister No Kwang-chol and sister Kim Yo-jong.
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.