Why Xi Jinping changed his mind on China’s fiscal stimulus

The question for investors is whether these measures, which Beijing calls a “combination punch”, will be enough.

Joe Leahy, Edward White and Cheng Leng

Oct 23, 2024 – 2.12pm

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

While most people in China spent the week-long national holiday this month enjoying the cooler autumn weather, brokers in Shanghai were stuck in their offices conducting a sector-wide stress test of their trading systems.

The Shanghai Stock Exchange is keen to avoid a repeat of events from late September, when Beijing’s abrupt announcement of its biggest monetary stimulus since the pandemic sparked a stampede by China’s 220 million retail investors back into equities that crashed the market’s trading systems.

Financial Times