China’s Middle Class Surge: A Temporary Boom Amid Economic Stimulus and Lingering Uncertainties

China's middle class is currently experiencing a surge in optimism, but will it continue?

While a series of economic incentives are lifting spirits, skepticism lingers regarding the country's long-term economic outlook.

The 41-year-old woman saw nearly 80% of her 2 million yuan (equivalent to about US$283,000) investment disappear over the last ten years.

"From what I can tell, the top leaders seem genuinely committed this time," stated Gu, a Shanghai homemaker married to a corporate executive. "With my experience in the stock market, I remain guardedly hopeful. I believe we're on the brink of a bull market, though it's hard to predict its duration."

The stock market on the mainland has been among the globe's poorest performers since 2021, affected by an unstable economic rebound post-pandemic and Beijing's shift in focus towards concerns such as national security and technology, amidst rising tensions with Washington and its partners.