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But Si Zhenming, design director of Chinese home appliances maker Joyoung, said local brands aren't synonymous with "trading down".On the contrary, they could well serve as a symbol of a "chic" lifestyle.

But beyond that, the companies say they plan to work together to offer technology to other retailers, as well, by combining Kroger’s grocery experience with Microsoft’s roots in the cloud, artificial intelligence and the Internet of Things. That’s where the partnership is unusual, potentially expanding beyond stores in the Kroger corporate umbrella.

But it would be costly to maintain a large disposal capacity on a regular basis, he said, and the key for authorities to cope with a major shortage in the event of an outbreak was to have sound contingency plans. In the meantime, it was also important to ensure that private businesses played a role, as the huge medical waste disposal market had high technical and funding thresholds, he said.

But in the first half of this year, acquisitions and greenfield investments from China are projected to see a year-on-year drop of more than 90 percent to the lowest level in seven years, the research firm said on Wednesday.

But she stressed that although the ordinance carries the title "emergency", Hong Kong is not in a state of emergency.