China has made a lot of investments into Africa and Central Asian countries, more like IMF-style loans, which give it considerable political leverage. But as to whether this translates into substantial economic advantages for China in terms of cash inflows, not just outflows, I haven't seen much to that effect.
China's housing market is its biggest problem. Most people invested their savings in second/third/etc. apartments as the stock market was notoriously unreliable (and investing abroad was very difficult). That means that a tremendous amount of middle-to-upper-class wealth is tied up in property values, creating a tremendous bubble. But the gov cannot let the bubble pop (see Evergrande, others before), as Japan did in the 90s, as that is the one thing that (in my opinion) could actually bring the CCP down.
China's housing market is its biggest problem. Most people invested their savings in second/third/etc. apartments as the stock market was notoriously unreliable (and investing abroad was very difficult). That means that a tremendous amount of middle-to-upper-class wealth is tied up in property values, creating a tremendous bubble. But the gov cannot let the bubble pop (see Evergrande, others before), as Japan did in the 90s, as that is the one thing that (in my opinion) could actually bring the CCP down.