Hustle and bustle returns on back of holiday season

China rolled out optimized epidemic control measures, lifting restrictions on domestic and international travel, allowing home quarantine for asymptomatic and mild cases and cutting mass nucleic acid testing.

With the flow of people and exchange of goods further facilitated, the new policies are set to gradually revive business activities across a wide range of sectors, including consumer spending, investment, and foreign trade -- thus, the huge market potential will be unleashed to allow economic output to expand.

Morgan Stanley forecast that China's economic activity will return to the pre-pandemic level from the second quarter of 2023, and the upward momentum will continue until the end of the year.