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Annual retail sales for 2019 are estimated to decline by 11.2 percent to HK1 billion, after local consumer market suffering badly from the second half of 2019 with October recording a 24.3 percent decrease in sales – the largest monthly decline on record.

Apart from ensuring that asset management will better support the implementation of debt-to-equity swaps, the new rules will also promote the sound and orderly development of the AIC's asset management business, Liao said.

Another 4,543 people from 1,200 households in Kizilsu Kirgiz Autonomous Prefecture have just been relocated to neighboring Kashgar Prefecture some 90 km away this summer.

Another common problem, he said, is investors submitting a forged bank statement. "Once we get any statement from an investor, we forward them to banks to verify whether they are genuine," Kariuki said.

Animation and toy maker Alpha Group increases pace of expansion abroad