China's economic recovery globally significant

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.