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Indeed, with the rising labor costs in China, especially the coastal regions, many manufacturing jobs have been either relocated to the hinterland or to countries like Vietnam, Bangladesh and Ethiopia, where labor costs are lower, or more competitive.

In traditional areas of insurance business that are highly regulated, however, foreign insurance companies face intense competition from their large and powerful Chinese counterparts, making it difficult for foreign insurers to increase their market share here, he added.

Individual income tax on temporarily received subsidies and bonus pertaining to epidemic prevention work will be exempted. In addition, the individual income tax on medical protective equipment that staff get from companies will be zero, the STA said.

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Industry insiders said contactless delivery is being preferred by everyone these days, which is expected to drive the development of intelligent lockers and unmanned delivery in the long run.

In total, OneWeb aims to construct 45 such stations around the world, Steckel said.

In the wee hours of Monday, a small group of them had intended to abandon their PolyU stronghold. But their suggestion was thwarted by strong objections and harsh criticisms from the majority.

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Independent refiners could see their profits soar if they enter the high-end market, said Ren.

In this age of connectivity, Moleskine intends to extend this concept to create a place where people can enjoy coffee and food, but "at the same time, they can share, study, or listen to great content in this place", says Bodoni.

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Indonesian exporters would take advantage of the deal as all the country's export products will be untaxed in Australia and the industries in Indonesia will get raw materials with lower costs as the import tariff for Australian products are also deleted in Indonesia, Indonesia's Trade Ministry said in a statement received on Monday.

Industry insiders have said that Xiaomi might be included in the Hang Seng Composite Index 10 trading days after its listing, which would allow the company to be accessed by a much larger pool of institutional investors. This would see it take the crown from Tencent, which went public in Hong Kong in June 2004 and was included on the Hang Seng Composite Index three months later.