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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.

Announcing the measures, Chief Executive Carrie Lam Cheng Yuet-ngor said those from the Chinese mainland, Macao and Taiwan, would be denied entry if they have been overseas in the past 14 days. Other measures include suspending the transit service at the city's airport and requiring arrivals from Macao and Taiwan to a 14-day mandatory quarantine. 

Anthony Neoh, chairman of the Independent Police Complaints Council, speaks at a press conference in Wan Chai on Friday. [Photo by PARKER ZHENG / CHINA DAILY]

Apart from its investment in logistics, Liu said the company will open 20 to 25 7Fresh－JD's fresh food stores－in Beijing this year, with an aim to open more than 500 stores within five year, eyeing the opportunities emerging from the fresh food retail sector.

Another priority for this campaign is bureaucracy and nonfeasance, it said, citing leading officials who dodge making important but risky decisions, and lower-ranking officials who are idle at work.