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Aren't personal relationships the key to small-business transactions? Customers can depend on a major bank's reputation for quickly and accurately handing transactions, but if you're buying a house, don't you need to get to know the real estate agent, and don't you want to check out the neighborhood?

Applying different policies for different housing types will support first-home buyers and upgraders in China and curb speculation in 2018, Wang Menghui, minister of housing and urban-rural development, said at a meeting last month.

Ardern arrived in Beijing on Sunday for a two-day visit to China. This is her first official visit to China since becoming New Zealand's prime minister in October 2017.

As Chinese consumers continue to become more sophisticated and the channels available to them become more advanced, companies have to understand and incorporate the new retail model and focus on a customer first mentality to win in this emerging new battleground, said Derek Deng, Bain & Company Partner.

Apple, Facebook, and Google have all declined in their rankings after a year of being pummeled by lawmakers and activists over issues like abusing their dominance, spreading disinformation, and misusing consumer data.