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And the outstanding value of China's yuan-denominated overseas bonds rose from 5 million in 2007 to .08 trillion in 2018, according to data from the Bank for International Settlements.

Analysts expect the holiday will offer the strongest boost for domestic tourism so far this year, though the numbers could be down from the same time last year with COVID-19 precautions still in place.

Anikeeva Svetlana Mikhailovna, president of Vostok Book, a Russian literature press, said the attraction between China and Russia is particularly strong today, and carrying out cultural exchanges in all aspects would lay a solid foundation not only for friendly relations between the two countries, but also for friendship between human beings.

And with the recent development plan aiming to foster leading global companies, analysts expect M&A activities to quicken as China has a large number of companies, mostly small, in the business.

And the country aims at development of the tourism industry in a responsible and sustainable way.