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Another change is that Chinese parents who decided to let their children study abroad are becoming more sophisticated, as they shift their focus from caring about rankings of the school to caring about the interests and advantages of their own children, said Liu of JLL.

Anne Petterd, head of international commerce and trade for the Asia-Pacific region at the law firm Baker McKenzie, said: "Throughout the pandemic we have seen parts of towns and countries closing down and opening up again. The extent to which manufacturing, the movement of labor, transportation and demand have been disrupted has differed enormously between jurisdictions."

Apart from good economic fundamentals, a rebalancing of State-owned banks' loan books has also made them look healthier and less risky.

Another 2,000 such centers are under construction or will be built, he said, extending their availability to all major grain production counties in China.

Apart from issuing vouchers and offering cash grants, the government should also stabilize the job market for low-income earners, expand coverage of unemployment benefits and encourage the development of small-scale consumer loans by giving full play to internet companies and online banks, Gan said.