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The Global Financial Crisis has brought eminent, negative economic and social impacts on China since late 2008, including a considerable decline in GDP growth and a rapid rise in unemployment. Drawing on the published literature and official statistical data, this paper examines the social consequences of the Global Financial Crisis in China, explores various policy initiatives taken by the Chinese government and assesses the effectiveness of these policy initiatives. It argues that the Global Financial Crisis has led to high levels of enterprise bankruptcy and job losses in China. Rural migrant workers and new university graduates are the two social groups most adversely affected. The economic stimulus package and expanded social programmes tend to be short term and economic oriented. Whether the policy initiatives have been effective in mitigating the social impacts of this crisis and correcting the structural imbalance of China's economy is unclear. The paper concludes by suggesting that a new policy approach should be taken to timely and effectively address the negative social impacts of the Global Financial Crisis on China, in particular by providing a more inclusive and comprehensive social safety net, prioritizing employment generation, and addressing housing deficits. 2008年底的国际金融危机为中国带来显著和负面的经济和社会影响，包括大幅度下降的国内生产总值增长和失业率激增。借鉴已出版的文献和官方的统计数据，本文探讨国际金融危机对中国的社会影响，探索中国政府所采取的各项政策措施，并评估其成效。文章认为国际金融危机导致大量的中国企业破产和职位流失；当中，农民工和应届大学毕业生成为最受影响的两大社群。可是，刺激经济计划和推动的社会项目往往是短期和经济取向的，这些政策措施是否能缓解这场危机的社会影响和扭转中国经济的结构性失衡仍未可知。文章的结论提出应该通过一套新的政策方针，及时有效地应对国际金融危机对中国的负面社会影响，尤其是提供一个更具包容性和全面的社会安全网、优先创造职位、以及解决住房短缺的问题。 [ABSTRACT FROM AUTHOR]