Morgan Stanley's research report stated that they are bullish on Ctrip's (TCOM.US) third-quarter guidance, especially for long-distance and cross-border travel. They believe that the group will embrace summer travel, which is the first normalized summer in China after its reopening, driven by visa-free policies, the resumption of most flights, and stock price gains.

According to Ctrip's data cited by Morgan Stanley, as of July 2nd, the volume of inbound orders increased by 100% year-on-year, driven by a 150% increase in orders from 14 visa-free countries or regions.