The Chinese government announced an aggressive 4 trillion renminbi stimulus
package to pump-prime the economy. Since then, a number of questions have centered on this fiscal package. Where would the capital come from? How would it be spent? When would the impact most likely take effect? In this report, George Nast, a partner in our Shanghai Office, Janamitra Devan, a Senior
fellow with the McKinsey Global Institute, Rae Chen, a Senior Associate in our Beijing Office and I provide our perspective on China’s fiscal stimulus package and its potential implications. Given the unprecedented uncertainty in how the Chinese government and the Chinese economy manage implementation risks, this document represents our current, but evolving perspective.

Authors: Rae Chen, Janamitra Devan, George Nast, Jonathan Woetzel

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