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Ant is also involved in shaping China's digital currency architecture, according to the filings, which stated it is "one of a number of powerful commercial institutions" that the People's Bank of China, the central bank, summoned in late 2017 to develop the digital currency system.

Apart from serving China Construction Bank and its subsidiaries, the fintech company will export technology capabilities to external financial institutions. Its business scope includes software technology, platform operations and financial information services.

Apart from risk control, "another key principle is to restructure the financial capital investment structure, to guide more sources shifting into high-tech oriented financial services from traditional businesses," an expert who is involved in the regulation's drafting work told China Daily.

Announced by the State Government on Sunday, the 6 million (1 million) contract with the Public Transport Authority (PTA) will operate as a joint venture with engineering construction company UGL and involve the development of 4G communications systems for voice and data services on Perth City trains.

Another Hong Kong legislator, Eunice Yung Hoi-yan, who is also a lawyer, said she found it unfair to Hong Kong's international image, as the video spread the false message that cats and dogs can be eaten in Hong Kong.