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"HKRI has been sticking to the quality of our projects over the years, and our strengths in developing residential properties will benefit from a well-regulated and orderly market," added him.

"Given that growth in the past decade or so was very much driven by debt-financed investment, deleveraging may lead to a sharp reduction in investment," Molnar said. "Therefore it is important to make sure that investment projects with a net present value obtain financing."

"Guess who is the most envious of my job?" Liu jokes. "It's my granddaughter! She's jealous of all the ice cream I get to eat. After all, who could refuse such delicious treats!"

"Government departments must be open-minded. Approval procedures are necessary, but they are not a panacea, especially in terms of compliance oversight. We should keep working on the application of the principle, which is that the responsibility for oversight rests with those who issue the approval and those who are in charge," Li said.

"For great powers such as China and the US, competition — even conflict — is natural," Cui said. "It is, however, vital for us to manage such competition in an effective and constructive way."