Well, the short answer is not really.

All the data shows that growth in China is still low, youth unemployment is still high and citizens, they just aren't spending like they were before the pandemic.

And ultimately, it's the property problem which is at the heart of all of this.

And that still hasn't been fixed.

The Chinese policymakers response to the troubled housing market has on the whole been lacklustre.

There's a sense that they don't want to row back on the progress they've achieved in cooling the market and bringing prices down and reducing the economy's reliance on real estate.

But the problem is other sectors have not yet emerged that can fill the gap left by housing in the Chinese economy.

So don't expect a big bazooka style stimulus package to try and improve the Chinese economy.

It's not really Xi Jinping's style.

To the Chinese president, that's the sort of thing that Western boom and bust capitalist economies would do.

Having said that, he knows that he does have to do something in the short term.

And recently, the government has been making some tweaks to its policies to try and get consumers to spend a bit more in the coming year.

President Xi received some very candid and blunt feedback on the state of the economy during a trip to Western China in September, where he met with some senior retired party leaders who were willing to speak to him in very blunt terms.

And that seems to have been a catalyst for this pivot toward stimulus.

But President Xi's orientation overall has been to stay the course and keep the faith that the focus on high quality growth would eventually yield dividends after a difficult transition period.

Many of China's problems are structural and they will not be fixed overnight.

Xi Jinping basically wants to evolve, to totally reshape what makes China prosperous.

But moving away from mass manufacturing and property to high tech industries like AI, renewables, biotech, that's going to take years, if not decades, to achieve.

So really a long term project.

But in the meantime, let's not forget there's also the small matter of a second Donald Trump presidency to contend with as well.