Global financial crisis stimulus (2008-2009)
After Lehman Brothers collapsed, Beijing rolled out a 4 trillion yuan stimulus, cut mortgage rates and down payments, and waived some home-purchase taxes to revive housing.
Home sales and prices rebounded sharply within about a year, helping China post one of the fastest recoveries of any major economy.
The rebound fed a property and debt buildup that later required repeated tightening rounds.
Shows how quickly Beijing can turn fiscal and monetary tools on housing when growth falters.
