But Li asserts that relationships, or the traditional guanxi, are fading as currency in property deals.

FORBES: On The Cover/Top Stories

The new environment suggests that guanxi, or personal connections, will no longer count for much.

CNN: ASIANOW - TIME Asia

Li, the territory's premier tycoon, is a recognized master of the art of guanxi (personal relations).

CNN: Master of Guanxi

"There is a Chinese phenomenon known as 'guanxi, ' which translates literally as 'special relationship, ' " explained Chadwick.

CNN: Chinese soccer: Vanity project or emerging superpower?

They have three advantages: they speak the language, they understand the culture and they have guanxi (connections).

ECONOMIST: How global leaders tap into diaspora networks

In China such back-scratching is all part of guanxi, or relationship building.

FORBES: Hollywood's Mr China: Dan Mintz, DMG

"Having a connection, or 'guanxi, ' is important, " said German national Max Storz, who found a sales job in Guangzhou through a contact of his girlfriend.

CNN: What does it take to get a job in China?

In China, Li has worked hard to nurture guanxi (personal relationships).

CNN: Up, Up And Away

Remember that guanxi involve an invisible balance sheet between two sides.

ECONOMIST: Business travel

Then there is the company's corporate guanxi (connections).

CNN: Change Is in the Air

That's guanxi with a capital G.

CNN: Election Watch