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Cheng Haijun, professor from Beijing College of Social Administration, said the government released a series of policies to target those problems, including the pilot projects concerning old age allowance, home-based care for the aged and a combination of medical treatment and endowment.

Chen also voiced support for Chief Executive Carrie Lam Cheng Yuet-ngor to lead the SAR government in exercising law-based governance.

Cheung wrote he will also meet with all Hong Kong-based consuls general and representatives of foreign chambers of commerce in the following week for that purpose.

Chen expected the price subsidy to be temporary as the strategy mainly serves to nurture and expand the market.

Chen said investors in China are paying "systemically higher "attention to investments based on environmental, social, and governance factors, especially since the COVID-19 outbreak.