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Ant Financial's expansion in Hong Kong is highly aligned with CKH's line of business, which has a strong presence in retail, infrastructure, energy and telecommunications in the city. The group boasts personal care store Watsons, supermarket ParknShop and electronic store Fortress, among many other flagship companies in Hong Kong.

Another source in charge of shantytown projects in the northwestern Shanxi province confirmed that current projects have been implemented "as scheduled" and they are yet to receive any notice to halt the projects.

Apart from the scene-stealing manufacturing investment, the services sector, which accounts for roughly 70 percent of Shanghai's GDP, ebbed 2.7 percent to 609.6 billion yuan, thanks to technology empowerment to help many businesses weather the storm.

Another overarching trend that is pressuring rental prices and demand is Beijing's slowing population growth. The population has been falling since 2017, in line with the city's 2016-2035 urban plan that emphasizes the city's role as the political, economic and technological capital of the country in addition to being the main hub for international trade and development. Capping the city population at 23 million is one of the measures set out in the urban plan.

Apparently this Amazon Prime Day didn’t go to the dogs after all.