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Capital inflows, mostly in the form of foreign investment in domestic bond and equity markets recently, will continually increase, along with the reduced limitations imposed on cross-border financial activities, they said.

Chan hoped that the HKMA could start granting licences to virtual banks towards the end of this year or in the first quarter of next year.

Changing consumer trends during the pandemic resulted in a new U.S. ecommerce sales milestone for Walmart. The retail giant is increasingly going head-to-head with Amazon across digital and physical retail sales channels. (Walmart Photo)

Chan said aside from the risk of spreading the virus on polling day, for an election to be fair candidates must have the opportunity to engage with voters. This simply cannot happen in a city fighting a new wave of COVID-19 infections, with numerous social distancing measures in place.

Celebrities took part in this year's basketball-themed Super Penguin Celebrity Game in Sanya, Hainan province in June 2019. [Photo provided to chinadaily.com.cn]