Bearish views on the Australian economy have again been challenged by forecasts that indicate China will be one of the world's fastest-growing economies for years to come.
China is targeting growth of 6.5 per cent to 7 per cent in 2016, Beijing confirmed at the weekend. More extraordinary is that China aims to grow 6.5 per cent all the way to 2020, exceeding the predictions of economists at the International Monetary Fund and the OECD.
The world's second-biggest economy will expand its fiscal deficit to get there, to 3 per cent of gross domestic product this year, up from 2.3 per cent last year. 
"What it does is confirm that the Chinese authorities' priority is going to be to maintain solid economic growth," said Stephen Halmarick, head of investment markets research at Colonial First State Global Asset Management. "And they've said that they'll use both monetary and fiscal policy to achieve that goal. That's quite important for Australia."
Mr Halmarick said that China's blueprint for the next few years was not the only bad news for the bears. The Australian economy is growing faster than expected, at 3 per cent.
"The data on Australia is proving the pessimists wrong anyway," he added. "The two words I'd use to describe [Australia] are resilient and flexible."
Some elements of China's proposed spending are directed at infrastructure.
For investors, this is further good news in the context of commodity prices as the rally rolls on. BHP Billiton rose more than 5 per cent to $18.62 and Rio Tinto more than 3 per cent to $46.40. However, enthusiasm was not indiscriminate and the China-exposed consumer stocks were not bid higher. Bellamy's Australia fell 3 per cent to $10.49 and The A2 Milk Company rose less than 1 per cent to $1.65.
In promising some stimulatory policy measures, questions as to whether China's debt burden will be manageable will not go away.
Paul Bloxham, HSBC's chief economist in Australia, agreed that if China's transition away from investment-led growth can be successful, that was a more sustainable source of demand for Australia. However, not everyone is convinced China will achieve what it sets out.
"I think the market still perceives risks in the China story - making a transition from an investment-led story to a consumer-led story is not easy. It's not going to be perfectly smooth," he said.
"It's that demand for services that's going to be Australia's growth driver. You only have to look at the tourism and the education numbers."
Tourist arrivals from China and Hong Kong rose to a record 1.3 million in the 12 months finishing   January, up 24 per cent, according to CommSec. Australian tourism, education and property have also been unwitting beneficiaries of corruption, which Beijing is seeking to eradicate.
Although China's official forecasts represent a slowdown, the compound effect means that in dollar terms China expanding at 6.5 per cent is adding as much to global gross domestic product, $US1 trillion, as it did in 2010 when it was growing faster, HSBC figures suggest.
"China's a whole lot bigger than it used to be," Mr Bloxham said.
He questioned whether Australia was doing enough to capitalise on this opportunity through fiscal policy.
"What ought we be doing? Well, building infrastructure, trying to make our tax system more efficient," the HSBC economist responded.
Prime Minister Malcolm Turnbull has urged businesses to try harder to make themselves attractive to China's consumers and investors.