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Another reason is the perception that English proficiency will lead to more job opportunities and brighter future prospects globally, said Wang.

Anne Ruan, who runs the Ningbo Orange Packaging Co, a paper products business in Zhejiang, whose output includes items for use at parties, saw overseas orders valued at million canceled in the first quarter. Before the pandemic, her company's annual exports were worth about million.

Another key factor is the purchasing power of Chinese consumers, especially those from the millennial generation.

Anthony Fauci, the government's top infectious disease expert, said on Sunday on CNN about working with Biden's transition team: "Of course, it would be better if we could start working with them."

Ant, the financial arm of Alibaba Group Holding Ltd, stands to benefit from the e-commerce giant's presence to support the development of Lazada, its newly acquired e-commerce counterpart in Southeast Asia, said Vey-Sern Ling, an analyst from Bloomberg Intelligence.