Chinese stocks have tugged at investor emotions many times in recent years, and now they’re at it again. The Chinese stock market is sizzling after Beijing unleashed a barrage of economic stimulus measures last week, pushing the CSI 300 index, a barometer of Shanghai and Shenzhen-listed companies, up 15.7% — its best performance since the 2008 global financial crisis.

• AlibabaBABA
  , JD.comJD
  , and MeituanMPNGY
  enjoyed their best trading days in years, with both Meituan and JD rising over 20% each in Hong Kong trading on Thursday and Friday.
• The stimulus blitz also lifted luxury stocks and industrial metals, with copper prices surpassing $10K per tonne for the first time in three months, while iron ore rebounded from a two-year low caused by weak steel consumption.

Another heartbreak? Some investors worry that these measures may not be enough to fix deeper economic issues, such as the ailing property sector and high youth unemployment. As Ting Lu, chief China economist at Nomura, noted, “The ‘shock and awe’ strategy could be meant to jumpstart the markets and boost confidence,” but well-thought-out policies are still needed to tackle “deep-rooted problems.” Still, Barclays strategist Kaanhari Singh believes that this time, “China is serious about tackling its structural issues. This could be big.”