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Apart from traditional services including trade finance and export credit, Altyn Bank will develop the cross-border renminbi clearing business and provide IPO, bond issuance and mergers and acquisitions services to local, multinational and Chinese corporate clients. In the meantime, China CITIC Bank will transplant its best practices to Altyn Bank, leveraging its advantages in e-banking, mobile banking and cross-border payment services, Li said.

Another panelist Ding Yuan, vice-president of the China Europe International Business School, noted that efficiency should be one of the principles of outbound investment, and his school was seeking to offer advice to Chinese investors in need as challenges may arise from venturing out into a world with a different culture and different legal systems.

Any action like decoupling will hurt the two sides; instead, cooperation will achieve a win-win situation.

Anti-government radicals earlier called online for rallies, and for the Legislative Council Complex to be surrounded on Wednesday to prevent lawmakers deliberating the National Anthem Bill.

Ant Financial Services Group has applied for a digital banking license in Singapore, as more Chinese technology powerhouses hasten their pace in expanding their digital offerings beyond the Chinese mainland.