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"For the large number of elderly people who are not familiar with them, mobile payments mean great inconvenience," Zhen said, adding that for those living in remote villages or who are less well-off, and where internet coverage is still low, cash remains king.

"For me, the most important thing is that all BMW organizations in China play a more crucial role in the global network," she said.

"For those of us who follow CFIUS on a regular basis, we're very surprised to see the executive order related to TikTok," said Justin Huff, former deputy director of the investment security office at the Treasury Department.

"Government at all levels may maintain and expand the scheme of cutting taxes and administrative fees this year to support the real economy," said Wang Yuanhong, an economist at the State Information Center, a government think tank.

"For years, Causeway Bay has long been a magnet for shoppers worldwide and the summer is traditionally a peak season for retailers in the area," said Henry Jong, senior regional sales director of Centaline Commercial, a realty agency.