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As the cornerstone of the capital market, listed firms now face some prominent issues such as share-pledging risks, fund misappropriation and irregular guarantee, according to Yan.

As regards future development, the central government authorities have indicated ambitious plans for Hong Kong’s prosperity in the Greater Bay Area. Apart from being a financial center, it will also play a leading role as an innovation and technology hub, with assured prospects. To alleviate housing shortages, Lam has announced major housing projects in the Lantau area, which will supplement those already envisaged for the North East New Territories. If, moreover, Hong Kong can demonstrate that it is willing to discharge its responsibilities to the rest of the country, and that it can leverage on its unique status under the Basic Law, there is no reason why democratic development should not resume, with our current way of life hopefully continuing beyond 2047. If, however, it chooses to squander its many advantages, it will have only itself to blame.

As the epidemic issue has not been resolved, local governments should clarify protective measures for companies to restart operations. It should instruct enterprises to provide employees with necessary protection and offer enterprises with sufficient protective supplies.

As the Chinese market grows bigger and more mature, immeasurable purchasing power will be created, which will provide wider markets both for China and the world, Wang added.

As to the banking sanctions, Washington will be aggressively enforcing these provisions to lock up Iran's assets overseas and deny Iran access to its hard currency, he said.