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Both of the firms are expected to launch their first private securities products for qualified institutional and high-net-worth individual investors in China after six months.

Boosted by the new partnership, Jin Gong Men China announced a series of development initiatives termed Vision 2022, aiming to drive double-digit sales growth in each of the next five years.

Both Cheung and Chan pointed out the importance of innovation and technology to the COVID-19 fight and the post-epidemic development.

Boshihao Group, a Shenzhen-registered firm that develops and produces robots, smartphones and tablet computers, opened a factory in Horgos in May.

Bolton, however, said Britain, Japan and a number of other countries supported the US position.