Main activities:

1. Opening the Border China Will Increase Australia's Gross Domestic Product

2. Reopening will increase Australia's GDP by 0.4 percentage points

35000 Chinese students will return to Australia to study

Australia and New Zealand Banking Group Limited said that reopening China is expected to increase Australia's GDP growth by 0.4 percentage points in the next two years.

Economists at ANZ Bank said in a research report on Wednesday that an increase in the number of Chinese students and travelers, as well as an increase in natural gas exports due to increased industrial activity, will drive economic growth rates.

At least 50000 students from China are expected to return to Australia later this month, in order to stop recognizing online degrees before the start of the first semester, as previously ruled by the Beijing government.

Benefits of Chinese Scholarship Australia:

The increase in foreign nationals may add some relief. The job market in Australia is tight as students fill vacancies in hotel services.

The economist said, "It is very important for Chinese students to return to Australia because they need to find accommodation, purchase food, and pay the bills. These living expenses account for 57% of education exports, while the rest is tuition fees.

In terms of economy:

Increasing service exports to Australia's top trading partner will provide urgently needed impetus for economic growth at the highest interest rates in 10 years. This may help the central bank complete the arduous task of dealing with high inflation.

Although ANZ expects Chinese tourists to return quickly, due to rising travel costs and delays in passport and visa processing, it will take several years for the numbers to fully recover.

Stronger industrial activity in China will increase exports of liquefied natural gas, despite the limited upward space for iron ore in the context of a sustained downturn in real estate, economists say.