After four miserable years, stock market in Hong Kong and mainland China are finally soaring, but whether benefits from the economic stimulus measures announced in September spread beyond stock investors and into the real economy have yet to be seen.

Pan Gongsheng, the governor of China’s central bank, announced a raft of measures on September 24 aimed at boosting the country’s flagging economy. The move, which came a week before the 75th anniversary of communist party rule, was made in response to concerns that China could miss its own 5% annual growth target.

Top Chinese economic policymakers are expected to flesh out a raft of growth-boosting policies on Tuesday, after the announcement of long-awaited stimulus measures last month sparked a blistering stoc

The blowout surge in China's stock market still has ways to go, with another 15% to 20% upside ahead, Goldman Sachs predicts. It's a standout call for a market that has already impressed in recent weeks.

The recent two-week rally sparked by the unveiling of the People’s Bank of China’s stimulus package has already seen one of the sharpest increases in Chinese equities in history. Goldman Sachs’ analysts said the rally could now have more legs.