Truly exciting news:

Officially released by Consular Department of the Ministry of Foreign Affairs on 24 Nov 2023:

A unilateral visa-free policy will be trialed for ordinary passport holders from France, Germany, Italy, the Netherlands, Spain, and Malaysia. From December 1,2023 to November 30,2024, ordinary passport holders from the aforementioned countries who come to China for business, tourism, visiting relatives and friends, and transit for no more than 15 days, can enter without a visa.

Those from the aforementioned countries who do not meet the visa-free conditions still need to arrange a visa to China before entry.