He said uncertainties are unlikely to affect Chinese corporate investments in the Asia-Pacific region－including ASEAN members－fueling growth in industries ranging from food and health to telecoms and tech.

"Deals won't stop," Fleming said.

The expected quickening of cross-border investments from China is also in line with China's Belt and Road Initiative, which promotes business ties with nations along the ancient Silk Road connecting China and Europe, Africa and the rest of Asia.

At the same time, Fleming did see the inevitability for Chinese companies to adopt a more sophisticated approach and be more careful in a number of operations in their overseas expansion.

"To make successful deals, they will have to adjust their action strategies, deal sizes and structures, exchange and cost management policies, and corresponding legal practices in pursuit of mergers and acquisitions," Fleming said.

Based on their previous experience in Europe and elsewhere, companies would have to take a longer-term view and perhaps employ a more selective M&A approach.

Second, they were advised to act early to involve specialist services in the legal and other professional fields in the deal process.

Third, they needed to be more careful and flexible in designing the deal structure in order to mitigate a single company's exposure to any potential risk.

Fleming also said that companies must engage with local regulatory authorities early on in the process.

He also said that companies needed to consider the role that the media could play in a deal.

Deals that are pending regulatory approval are often reported in the media. Companies should be more sensitive to local prevailing social conditions, he said.

At a time of rising populism, companies were advised to be more careful and involve local public relations expertise and the local media.

Overall, Fleming remained confident that Chinese companies would continue to go overseas to seek diversification. He added that 2017 would be a year of continuation.

The Baker McKenzie M&A specialist said Chinese companies were quick learners and would work very hard to pursue their goals.

Legal services in China, including Baker McKenzie's Chinese partners, were making progress to adapt to the needs of their clients, "in order to be where deals are", Fleming said.

The tunnel is located at the junction of Lhasa and Nyingchi in the Tibet autonomous region at an average altitude of 4,740 meters above sea level, according to the Mila Mount Tunnel Project Headquarters.

As a key section of the Lhasa-Nyingchi Highway on the National Highway 318, the two lanes of the tunnel are 5,727 meters and 5,720 meters long respectively, according to the project headquarters.

Construction of the tunnel started in April 2015, and the project is about 70 percent complete to date, it said, adding that, hampered by the natural environment at high attitude, the construction process has encountered many obstacles.

"With a lack of oxygen and temperature lows of - 30 Celsius in winter, we require highly skilled workers," said Wang Liang, chief engineer of the project headquarters.

Wang said many workers suffered from attitude sickness during the tunnel's construction, and that much time and effort has been spent on recruiting qualified workers.

In order to overcome such difficulties, there are 15 oxygenators, an oxygen tank and five boilers on the project site, he added.

After it opens, traveling time between the cities of Lhasa and Nyingchi will be halved, Wang said.

"Driving from Lhasa to Nyingchi will take just three to four hours instead of about eight, and it will be much safer," Wang said.

"It will also have a positive impact on the social and economic development of these places, and it will make life much more convenient for local ethnic groups."

Tokyo officials say the estimate covers a 17-year period from 2013, when Tokyo won the hosting rights, to 2030, 10 years after the Games.

The estimated figures show that direct investments and visitor spending in the Games will generate about 30 billion dollars in economic benefits for Tokyo, and 16 billion dollars for the rest of the country.

Benefits from indirect investments and expenditures are estimated at nearly 150 billion dollars for Tokyo, and about 88 billion dollars for the rest of the nation.

Tokyo officials say they want to cooperate closely with other municipalities to ensure that the benefits will be felt across the country.

The fresh round of funding from Alibaba's Singapore arm for Paytm's e-commerce venture will not only help Alibaba better take on global giant Amazon in India, it may also create opportunities for other players to raise money, experts say.

Paytm has yet to comment on the investment.

Paytm E-Commerce, which recently launched Paytm Mall -- similar to Alibaba's Tmall online marketplace -- has been spun off from parent One97 Communications. One97 Communications runs mobile wallet operations under the Paytm brand.

Paytm Mall claims to offer customers a choice of 68 million products from some 140,000 sellers. It has partnered with various third-party warehouse providers and makes deliveries via 17 logistics centers and 40 courier companies.

According to various media reports, the combined stakes of Alibaba and affiliate Ant Financial in Paytm E-Commerce will now increase to 62% from 40%. The Economic Times reported that One97 Communications was valued at $4.8 billion in 2016, when it raised $60 million from Taiwanese chip designer Mediatek. Ant Financial owns a 32% stake in One97 Communications, while Alibaba holds around 8%.

Other investors in One97 Communications include U.S. venture capital company Sapphire Ventures and Silicon Valley Bank.

This is another big boost for One97 Communications, whose mobile wallet business surged after India's demonetization move took high-denomination currency notes out of circulation. Some experts say Alibaba's latest investment could help Paytm expand its e-commerce business beyond India.

Paytm is still small compared with Amazon and Flipkart, which together control 80% of India's e-commerce market. Amazon India has deep pockets thanks to its parent company, and Flipkart is reportedly looking to take in a billion dollars in fresh funding.

Snapdeal, another big Indian e-commerce player, recently had to lay off employees to remain profitable. Alibaba holds a roughly 5% stake in the company.

In addition, the law aims to increase economic efficiency and to ease access to new financial resources. Prior to the enactment of this Movables Pledge Law, the Mongolian Civil Code was the main reference point and a principal governing law for transactions involving the pledge of movable and intangible property.

Due to the lack of detailed guidance and regulation regarding the pledging of movable and tangible properties, the most common pledge security became immovable property; thus, shutting out a vast whole array of properties from the economy.

Now, under the Movables Pledge Law any movable and intangible property can be pledged as long as the property can be validly used in civil transactions, is physically present or is not yet readily available; such properties include all types of shares and securities, receivables, intellectual property rights, and other intangible properties.

According to FT, China’s GDP surpassed the EU’s in 2011 at market exchange rates, but its banking system did not take over the top spot until the end of last year.

That lag was fuelled by an extraordinary increase in bank lending since 2008 when the Chinese government unleashed aggressive monetary and fiscal stimulus to soften the impact of the global crisis.

“The massive size of China’s banking system is less a cause for celebration than a sign of an economy overly dependent on bank-financed investment, beset by inefficient resource allocation, and subject to enormous credit risks,” said Eswar Prasad, an economist at Cornell University and former head of the China division at the IMF.

Statistics show Chinese bank assets hit $33 trillion at the end of 2016, versus $31 trillion for the eurozone. US assets stood at $16 trillion and the Japanese at $7 trillion.

The value of China’s banking system is more than 3.1 times the size of the country’s annual economic output, compared with 2.8 times for the eurozone and its banks, the FT analyzed.

Economists say Beijing’s increased stimulus has led to significant wasteful investment, industrial overcapacity, and dangerous debt levels. Unlike in developed markets, Chinese local government has relied heavily on bank loans to finance infrastructure.

“There’s a lot of hidden sovereign credit within the corporate loans on bank balance sheets, which can distort the picture when you do a cross-country comparison,” said Hou Wei, China banks analyst at Sanford C Bernstein in Hong Kong. “In most other markets, governments just borrow directly from capital markets. In China, it’s a unique situation,” he added.

While the world’s three largest banks are Chinese, experts say the true scale of Chinese banks is understated. Shadow banking has exploded in the country over the past seven years.

The authorities have announced a crackdown on underground banking, boosting efforts to curb capital outflow and fight corruption. Recently they signaled an intention to shift policy focus away from stimulus towards risk control.

Economists say more developed capital markets could help diversify China’s financial system away from banks but a more diversified financial system will reduce Beijing’s ability to manage money flows.

“The Chinese government’s ambivalent approach to financial markets — seeing them as a useful resource allocation mechanism but unwilling to let them operate freely, with the ostensible aim of maintaining stability and control — has often added to market volatility and made them less efficient,” said Prasad.