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And, the opportunities up for grabs will be "once in a lifetime", she says. "The past and coming 20 years have been and will still be the golden period for asset management in China … we believe active management investing in the China market will shine."

Andy Ho, CEO of Philips (China). [Photo provided to chinadaily.com.cn]

An online influencer named Liushen Leilei wrote on WeChat that what Yuan had deleted were vivid descriptions that abounded in details, which should not have been deleted. The passage got more than 100,000 views and 65,000 likes.

Analysts said Alibaba's profit may have dropped due to the group's diversification that required investments in new business segments like media, entertainment and cloud computing.

An updated city policy last year, for instance, clarified that a proposal for installing an elevator needs agreement of two-thirds of the residents in the building, down from 90 percent previously. It also allowed residents to use their housing funds－a kind of national social welfare given to Chinese employees, which normally can only be withdrawn for situations such as purchasing housing property and paying back a mortgage－to pay for elevator installations.