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Chen said that in recent years, a growing number of Hong Kong residents have bought properties in first-tier cities such as Guangdong's Shenzhen.

Chen Geng, chairman of Fashion Flying Group, an outdoor garment maker based in Fuzhou, Fujian province, said orders dropped by 50 percent in the first half of the year but Europe, its main market, was now on the road of recovery.

China Baowu has of late been steadily expanding its scale. In September 2019, it acquired Maanshan Iron and Steel Co Ltd (Magang) and in December it decided to become the actual controller of Chongqing Iron& Steel Co Ltd.

Chen Qingtai, an automobile expert with the Development Research Center of the State Council, shared his vision that fully-electric vehicles will have a cost performance better than conventional fuel vehicles no later than 2025.

Cheung also rues the bureaucratic nature of senior and lower-level civil servants, and how they shirk having to make difficult decisions.