To someone living in China, this is just a giant smokescreen. The economy is dwindling, unemployment at an all time high (so high, in fact, that since October the statistics ministry is not allowed to publish figures anymore), inflation is high, private indebtedness on alarming levels, the gov had to save 6 banks from collapsing, and a bunch of shadow lenders did collapse, there is a real estate crisis, private spending down to a minimum, public spending increasingly erratic, and educated Chinese are leaving by the hundredthousands every month.