China's Economic Rejuvenation Policy Adjustment in the Post-Epidemic Period -- Against the Background of Local Financial Problems, Rapid Aging of Society, and Sino-US Trade Tension

Abstract

Since China officially lifted the nationwide blockade and entered the post-epidemic era, various problems have gradually surfaced. The real estate industry is suffering, unemployed people have reached a new high, medical insurance reform has been hindered, import and export trade has shrunk, and economic growth has slowed sharply. There are many reasons behind it, but they are all related to three major backgrounds: local financial difficulties, a rapidly aging society, and Sino-US trade frictions. Judging from the current situation, China's economic downturn will not change in the short term. There is an urgent need for a response to the question of how to stop economic decline as much as possible, lessen the burden on the populace, manage this crisis effectively, and use it as a chance to release risks, upgrade industrial capacity, and set the groundwork for a future economic revival. Based on the obtained secondary documents, this paper mainly uses Japan, which has a similar cultural background and economic development process, as a comparison object to study the relevant policies and regulations newly promulgated by the Chinese government in the fields of local debt, social aging, and Sino-US trade frictions. Through the analysis of this paper, the current Chinese government should not continue the active and loose economic policy it adopted after the Reform and Opening in 1978, but rather should weaken government operations, cut spending, loosen market economy restrictions, and eventually reform the economic system.