China's reopening is one of the most watched global economic events of 2023, as it will set the tone for global recovery in the coming months
China hopes to take a great leap forward in the Year of the Rabbit. After three years, the 15-day spring festival—which started with Lunar New Year celebrations on January 22—is being celebrated without draconian Covid-19 restrictions in China, as the government ‘reopened’ the economy with pro-growth policies for rapid growth.
Mark Matthews, head of research for Asia at Julius Baer, a private banking corporation, says one of the most unexpected aspects of China’s reopening is the removal of harsh border controls. Over 2 billion people are expected to travel during the festive season.