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Despite the still strong growth prospects, analysts agreed that China needs to tackle challenges such as a piling up of debt, especially corporate and local government debt, and the rebalancing of the economic structure.

Direct investment from China to Russia has been concentrated in certain fields, and is mostly supported by government-backed loans instead of being dominated by businesses. This, as a matter of fact, has affected the level and depth of bilateral economic cooperation.

Ding Kwok-wing, commissioner of the Inclusive Dispute Avoidance and Resolution Office of the HKSAR Department of Justice, said the revision is timely and will enhance legal information exchanges and cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area, creating a high-quality legal service and create more support to the region's communities.

Digging deep

Dominic Wu Sze-yin, chairman of Asia Financial Risk Think Tank in Hong Kong, said foreign banks tend to take small stakes in Chinese lenders because of pressure from home regulators to reduce capital expenditure and debt ratios.