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"E-commerce platforms are seeking to unleash the consumption potential from fourth-tier cities and below this year, as the growth of online shopping in first－and second-tier cities is slowing down," said Cao Lei, director of China E-Commerce Research Center.

"Despite the loosening measures, China is not turning to an overall loose monetary stance," said Shen Jianguang, chief economist at JD Finance. Instead, the central bank focuses on targeted tools, Shen added, describing the TMLF as a "targeted interest rate cut".

"During the severe acute respiratory syndrome, or SARS, outbreak, many Chinese people also chose not to travel, but the industry soon rebounded when the outbreak was under control," said Min.

"Due to the internet and globalization, the topics that young artists in China concern themselves with, their selection of artistic mediums and their means of expression mirror those of their peers in the West," Zhu adds.

"Due to the pandemic, we are moving the program online and opening it up to more outstanding students than ever before. As more industries adopt digital technologies, they will drive the United Nation's 2030 Strategic Development Goals, especially those related to climate change," she added.