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Ant Financial－which owns a digital wallet service, a wealth management fund, and a micro loan platform,－is losing ground in the world's biggest digital-payments market and is therefore unlikely to conduct an IPO in 2017, reported news agency Bloomberg, citing sources with knowledge of the matter.

Any attempts at "de-Sinicization" will never undo the historical and cultural links between the two sides, he added.

Any regulatory streamlining can only serve its purpose when supported with enhanced compliance oversight, which helps to enforce market order. All acts of malpractice involving cheating in the marketplace, making or selling fake or substandard goods, or running unlawful monopolies, will be dealt with in strict accordance with the law and banned from the market, as they are the enemy of fairness and innovation and go against social ethics.

Another resident, 40-year-old Briton Peter Bentley, said after casting his ballot in Wan Chai that he had voted for a candidate who has maintained a good relationship with the neighborhood and has a record of more than 12 years serving the community.

Apart from cash donations and direct technology support, Chinese internet companies have embarked on "soft approaches" in their fight against the novel coronavirus outbreak.