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"China's economic recovery is a good omen for Southeast Asia and the rest of the world," said Lucio Blanco Pitlo III, research fellow at Asia-Pacific Pathways to Progress, a Manila-based foreign policy think tank.

"Cities are more open to multi-operator environments, which would foster competitiveness because everyone will be trying to give better service and get more users," Panozzo said.

"Compared to new homes, the secondary market can serve as a better reference. Especially in first-tier and major second-tier cities, where transactions of pre-owned homes account for more than half of their total trading, the figure has surpassed 80 percent in Beijing and Shanghai," said Zhang.

"Chinese consumers, especially the millennials (those born in the 1980s and the 1990s), want to enjoy life ... they are quality-conscious and care about their individuality, and when it comes to shopping, they prefer premium brands," he said.

"Consumers will only come out and take off their masks for a cup of tea if the epidemic has been contained. The crowded bubble tea cafes are proof that everything is getting back on track," Huang said.