Government spending directed towards welfare is not necessarily better than spending directed towards infrastructure. An example here is that Germany's railway, mobile Internet and other infrastructure are relatively poor.
Perhaps the key lies in "balance". China has always been ahead of the curve in infrastructure investment. Ahead of the curve means that some areas are beyond the level of economic development. For example, your infrastructure is worse than that of the United States, but your national income is far less.
It is indeed difficult in practice. This is the case with the stock market. If you let it go, it will be chaotic, and if you grab it, it will die. This round of JP's operation is worth learning. How to "simmer soup" is something that China should seriously learn.
Take your time. Governing a country is also a matter of experience, just like making cars. Just stick to the bottom line and don't make big mistakes. Don't let the system be replaced like the Soviet Union. As long as you don't fall, there will always be a chance to correct it. The future is still optimistic. Why? At present, "serving the people" is still intentional. Unlike the American elites who are ruthless, for example, the flood in North Carolina this time is very suspicious.