{"title":"China's 2024 economic stimulus","authors":"Kerry Liu","doi":"10.1111/ecaf.70009","DOIUrl":null,"url":null,"abstract":"<p>This study reviews China's largest post-COVID economic stimulus, launched in September–October 2024, examining its background, policy contents, early effects, and broader implications. Specifically, triggered by worsening economic conditions, the package aimed to stabilise stock and real estate markets, support consumption, and ease local financial stress while continuing strategic hi-tech development. By March 2025, results were mixed – weak demand persisted, but favoured sectors showed gains. This episode illustrates China's balancing act between short-term fixes and long-term ambitions, development and security, and reflects growing state intervention in the economy. It offers insights for understanding China's evolving policy logic and navigating debates on its future trajectory, including the ‘Peak China’ discourse.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 3","pages":"440-460"},"PeriodicalIF":1.8000,"publicationDate":"2025-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ECONOMIC AFFAIRS","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ecaf.70009","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This study reviews China's largest post-COVID economic stimulus, launched in September–October 2024, examining its background, policy contents, early effects, and broader implications. Specifically, triggered by worsening economic conditions, the package aimed to stabilise stock and real estate markets, support consumption, and ease local financial stress while continuing strategic hi-tech development. By March 2025, results were mixed – weak demand persisted, but favoured sectors showed gains. This episode illustrates China's balancing act between short-term fixes and long-term ambitions, development and security, and reflects growing state intervention in the economy. It offers insights for understanding China's evolving policy logic and navigating debates on its future trajectory, including the ‘Peak China’ discourse.
期刊介绍：
Economic Affairs is a journal for those interested in the application of economic principles to practical affairs. It aims to stimulate debate on economic and social problems by asking its authors, while analysing complex issues, to make their analysis and conclusions accessible to a wide audience. Each issue has a theme on which the main articles focus, providing a succinct and up-to-date review of a particular field of applied economics. Themes in 2008 included: New Perspectives on the Economics and Politics of Ageing, Housing for the Poor: the Role of Government, The Economic Analysis of Institutions, and Healthcare: State Failure. Academics are also invited to submit additional articles on subjects related to the coverage of the journal. There is section of double blind refereed articles and a section for shorter pieces that are reviewed by our Editorial Board (Economic Viewpoints). Please contact the editor for full submission details for both sections.
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