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Anbang bought the Waldorf from Hilton Hotel Group when there was a rise in Chinese investment in US real estate.

And with just 4 percent of the Chinese population owning a passport, compared to 37 percent of Americans, the "revolution" looks set to continue for the foreseeable future.

Analysts said the CPI reading may continue to fall in the coming months partly thanks to the increased food supply and a high base of pork prices.

Andy Tsang Wai-hung, Hong Kong's former police chief, said the city "urgently" needs a national security law to take on the city's violence, which he said is verging on "terrorism in nature".

Analysts attributed the IPO surge of Chinese tech firms to vibrant web-based industries. Innovations powered by internet technology are springing up and the group of tech-savvy young consumers is growing rapidly.