China’s latest data and its stimulus plans

CHINA ADVISORY - Report 21 Jan 2026 by Andrew Collier

After China released its December 2025 economic data over the weekend, Beijing hit the panic button. On Tuesday January 20, the National Development and Reform Commission held a press conference to announce a five-point plan to help the economy. My basic take on the plan is that it is very much pushing on a string – for the most part, convincing companies and consumers to borrow and spend money to revive economic growth. I will explain why this plan is unlikely to work.

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