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Any possible deterioration of tension among major powers needs to be prevented because it could lead to military confrontation, he said, suggesting that crisis management or dialogue within a consultation mechanism to deal with crises has to be put in place.

Apart from the growth in nonperforming loans, the gradual expansion of liquidity risk exposure at non-financial companies and defaults on private placement bonds and credit bonds will also increase the supply of problematic assets, Shi said.

Another high hope for the alliance is finding a solution for the city's beleaguered youngsters, Tung said.

Another 15 kilograms of methamphetamine were seized at the house of another prime suspect and he was also arrested.

Another driver is an ever-expanding demographic that is defined as three-generation travel. This refers to travelers seeking more spacious hotels, with an increasing variety of needs, and more leisure time, unplugging from stressful urban life and relaxing with family and friends, Schroeder said.