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"Despite trade tensions with the United States, China hopes to send the message that the nation will stick to efforts to facilitate globalization," said Xia Qing, an official with the National Development and Reform Commission, on Wednesday.

"Demand for modern, quality rental housing among young professionals and new graduates in China is growing rapidly, and through this collaboration, we are pleased to have the opportunity to participate in this fast-growing sector of Chinese real estate and to further diversify our investments in the market," said Jimmy Phua, managing director and head of real estate investments Asia at CPPIB.

"During the COVID period, the importance of skin care has gone up even more," said Seth.

"Even on Amazon China, the default language is Chinese. When you switch to English, you still see lots of content in Chinese. They just haven't made the effort to serve China's expat population properly," he said.

"Due to the government's tightening of real estate policies and the tepid market since last year, quite a number of high-end projects in the capital postponed their entry into the market, thus reducing the market supply," said Li Xiang, a senior manager in Research and Consultancy Department of Savills, an international real estate service provider.