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"For many — and in our president's case — the resistance to wearing a mask is engendered by a white superiority complex to Asians," said Tang. "The concept of 'exceptionalism' is embedded in many Americans' minds, the idea that Americans are exceptional and better, and therefore we are immune and don't need anything to protect us.

"Global investors have invested trillion in securities according to the ESG principles, whereas Asia only accounts for a small fraction of the total investment because of the lack of ESG awareness and little client demand for ESG investing in the region," she noted.

"For Airbnb, China is the only market that has its own product team apart from North America. We are also a separate business unit that makes its own decisions and has a financial budget, which is almost like an independent company," Peng said.

"For foreigners in China, the language barrier is the very first bottleneck. Also, foreigners have a different definition of an ideal home and prefer high-quality houses equipped with furniture," said Chen Tao, a senior analyst from market consultancy Analysys.

"For this purpose, current provisions that have constrained development of the market should be removed," Hong said.