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Despite the overall positive economic outlook for the region, the report also lists several risks including faster-than-expected interest rate hikes in the US, monetary policy normalization in major advanced economies, and the growing threat of inward-orientation across the global economy, which will likely dent the momentum of global trade expansion.

Digital transformation is a relatively special challenge for Chinese enterprises as the market is huge and the technology is developing rapidly, Fu said.

Ding Jie, a partner at Bain & Co, and Hu Weixiong, general manager of Tmall's fast-moving consumer goods practices, at a signing ceremony on Monday. The two companies will collaborate on big data and consumer insights.[Photo provided to chinadaily.com.cn]

Doctors held up mobile phones to allow families to talk to sick loved ones. Many patients were elderly and afraid.

Doctor Leung Chi-chiu, chairman of the advisory committee on communicable diseases of the Hong Kong Medical Association, on Monday said that the administration must take immediate action to tighten the city's social distancing rules and minimize local transmissions. Leung proposed to suspend on-campus classes, resume practices of working from home, and close entertainment venues and sports facilities, measures seen as effective ways to contain the virus at the height of the city's last wave of the pandemic in July.