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Confidence of survey respondents to business prospects in China rose to a 11-month high as market conditions improved and new products are set to debut, according to the Caixin survey. The National Bureau of Statistics survey also found that the confidence index was on the rise in February.

Concerns have arisen since a purported draft guideline by the NDRC - one of the main regulators granting approval for corporate bond issuance - circulated amid market players on Friday.

Concerted efforts are expected in exploration and innovation, with the goal being to maintain the long-term prosperity and stability of Hong Kong and to ensure a better future there, he said.

Companies are already working in that direction. Lenovo and the US tech giant Intel said in March that they have partnered with Shenzhen-based genomics sequencing company BGI Genomics to use super computing resources to accelerate the analysis of the genomic characteristics of the novel coronavirus.

Companies were offered major tax incentives to locate in the zones, import tariffs were lowered and foreign companies were allowed to set up joint ventures, as well as in some cases wholly owned entities.