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"Having high-quality case hearings is the best response when we are questioned on IPR protection," she said.

"Foreign investors — they're cancelling a lot of their trips. A lot of people are — I mean I have a meeting tomorrow with local investors who are thinking about moving their money out of Hong Kong. But I personally believe Hong Kong will become strong very quickly after these events end. Because we have great fundamentals. The fundamentals for me are, common law, independence of the judiciary, free flow of information, people and capital."

"Fuxing puts China on a higher stage," said Sun Zhang, professor at Shanghai Tongji University.

"Given the large scale of China's economy and foreign exchange reserves, it is unlikely for the country to be significantly hurt by risks associated with cross-border capital flows, but it is still necessary to push ahead reforms to better leverage the market's role in managing risks," Liu said.

"Had (the police officers) not been there in that location, more than likely more people would have died," Fulop said.