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Another common problem, he said, is investors submitting a forged bank statement. "Once we get any statement from an investor, we forward them to banks to verify whether they are genuine," Kariuki said.

Apart from monetary easing, further tax cuts and policy to encourage consumption are also in the policy toolbox for the authorities to boost the economy, said Shen.

Anwar was imprisoned again in 2015, when Najib was prime minister, after another sodomy charge, which he described as a politically motivated attempt to end his career.

Apart from Tencent, Alisports, the sports arm of e-commerce giant Alibaba, has also joined the party after launching the Alisports World Electronic Sports Games in March 2016, with 1,200 events planned across 15 Chinese cities. Another Chinese tech giant, NetEase, is also trying to develop an e-sports league based on its own games.

Another area where Shanghai enjoys unique advantages is the establishment of pilot zones, Li noted, where AI-powered applications in manufacturing, finance, healthcare, autonomous driving and robots are encouraged to test the waters in the city.