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As detailed measures are expected to be rolled out soon, downward pressure on the industry is likely to be eased, said Chen Shihua, assistant to the secretary-general of the CAAM.

As a result, industrial internet companies that promote the integration of real and virtual economies are likely to be the preferred investment targets for the new fund, Qin said, adding that industrial robotics makers, 3D printing makers, medical tech players and companies that focus on smart manufacturing are also of high potential to get investment.

As for the US proposed additional tariff on 0 billion worth of Chinese goods, Gao said China will be forced to and certainly will take countermeasures when necessary.

As chairman of the two listed companies K Wah Group and the Galaxy Entertainment Group, with a combined market capitalization of over HK9 billion (.9 billion), he is now Hong Kong's third wealthiest individual. Lui's financial success has enabled him to benefit society and serve the community, motivated by the quest for peace and education that he was denied in wartime.

As for cowboys being racist, in the 1800s cowpokes were a surprisingly diverse group. After the American Civil War (1861-1865) many emancipated blacks headed out west. An estimated 25 percent of cowboys, or 6,000 to 9,000 men, after the war and through the 1880s, were black, while about 20 percent of US cavalry troops were black, according to WyomingHistory.org.