Business
22:34, 24-Jul-2017
China’s H2 economic policy: Get rid of ‘zombie firms’
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The Communist Party of China reviewed the country's economic performance in H1 and deployed the work for H2's economic development at a meeting chaired by President Xi Jinping on July 24.
Topics such as tackling “zombie firms”, improving the domestic and international business environment and tightening control over financial innovation were discussed by officials.
China aims to get rid of zombie firms; companies supported by local government funding but that are not able to compete in a mature market.
This is the core task of China's supply-side reform throughout the remainder of the year.
Measures to eliminate zombie firms by market force while curbing local government debts were suggested at the meeting.
Officials said China needs to improve its business environment for international investors and domestic private investors.
The country will also continue to guide capital into the non-financial sector.