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Another ban announced on Tuesday is the resale of face masks. According to the country's economy ministry, reselling of face masks for profit will become a crime punishable by a one-year prison sentence or a 1 million yen fine, or both, amid surging demand spurred by the epidemic.

Another focus of institutional improvements is to foster a multi-level capital market covering main boards, the STAR market and the ChiNext board, among others, so as to give full play to direct financing in bolstering the real economy.

Apart from selling products in physical stores and on e-commerce platforms, the local governments from the five areas will also hold livestreaming shows to promote their agricultural products to Shanghai consumers.

Annie Yau Tse, chairwoman of the Hong Kong Retail Management Association (HKRMA), said earlier this week that Hong Kong's retail sector is currently in the worst situation since records began in the 1990s.

Another new report released by LinkedIn last month noted that there will be a shortfall of 12.3 million workers by 2020 in the Asia-Pacific region, leading to added costs of nearly .2 trillion every year.