On Feb 6, China restarted overseas group travel after three years of restrictions, which boosted confidence in the recovery of tourism industry. Thailand alone expects to welcome more than 7 million Chinese tourists in 2023.

The International Monetary Fund, the United Nations and the World Bank projected that China's economy would grow by 5.2, 4.8, and 4.3 percent in 2023.

A full recovery of China's domestic demand will boost global GDP to grow about one percent by the end of 2023 and the growth momentum will continue until 2024, according to a report by Goldman Sachs.