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Cheng said tech firms flourished with the help of innovations in the capital market.

Chen Sheng, a professor with the School of Public Affairs at Chongqing University, said illegal charges on businesses not only increase corporate costs but also damage the credibility of government.

Chen Xu, the chairperson of Tsinghua University Council, and Imperial's president, Professor Alice Gast, spoke at a joint symposium between the two universities on the "COVID-19 fightback and the future new normal".

Chief Executive of the HKSAR Carrie Lam will deliver the keynote address. Following, there will be a discussion by a distinguished panel headed by moderator Edward Chen Kwan-yiu, chairman of HKU School of Professional and Continuing Education. Panelists include Pansy Ho, group executive chairman and managing director of Shun Tak Holdings Ltd; Regina Ip Lau Suk-yee, co-chair of the Maritime Silk Road Society; Li Xiaopeng, vice-chairman & group president of China Merchants Group Ltd; and Nicholas Yang Wei-hsiung, secretary for innovation and technology of the Hong Kong SAR Government. At the conclusion of the panel discussion, the floor will be opened for more than 350 high-profile guests including entrepreneurs, academics and diplomats to ask questions and share their ideas on this important subject.

Chen also voiced support for Chief Executive Carrie Lam Cheng Yuet-ngor to lead the SAR government in exercising law-based governance.