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Another five suffered minor injuries and have been hospitalized.

Aplus Capital and Chenshan Capital have invested 125 million yuan (.5 million) in the Beijing-based Xiaomai. The company plans to use the funding to build up its supply chain and upgrade its products and system.

Another university alumni, Choy So-yuk, a former lawmaker from the city, said Tai had been unqualified for the post by advocating breach of law, and, hence, the HKU, a prestigious university in the city, should not continue to tolerate this.

Another key driver of domestic consumption and economic growth is China's urbanization, which could give rise to stronger demand for production materials such as steel and cement, he said.

Another big issue related to increasing automation is the widening of the gap between the rich and the poor, said Norwegian economist Finn Kydland, who won the 2004 economics prize. The economic downturn has not affected all sectors, and the pandemic has hit people with low wages and low skills much harder than those earning high incomes, he said.