China’s plan to cut industrial overcapacity by shutting down zombie enterprises will see millions of workers lose their jobs. Photo: Reuters China’s plan to cut industrial overcapacity by shutting down zombie enterprises will see millions of workers lose their jobs. Photo: Reuters
China’s plan to cut industrial overcapacity by shutting down zombie enterprises will see millions of workers lose their jobs. Photo: Reuters
Laura He
Opinion

Opinion

Across The Border by Laura He

China’s plan to kill zombie firms faces resistance at local level

Fears of mass unemployment and social unrest mean local authorities are reluctant to carry out central government’s plan

China’s plan to cut industrial overcapacity by shutting down zombie enterprises will see millions of workers lose their jobs. Photo: Reuters China’s plan to cut industrial overcapacity by shutting down zombie enterprises will see millions of workers lose their jobs. Photo: Reuters
China’s plan to cut industrial overcapacity by shutting down zombie enterprises will see millions of workers lose their jobs. Photo: Reuters
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Laura He

Laura He

Laura covers capital markets and financial affairs in Hong Kong and China, including major IPOs, corporate finance, investment banking, and equity markets, with an eye on technology and innovation for the Post. Previously, she'd worked for MarketWatch and The Wall Street Journal Digital Network in San Francisco and Hong Kong. She has also worked for Forbes in San Francisco and had stints at Xinhua News Agency as economics editor, anchor and financial correspondent in both Beijing and Hong Kong. She has an MA degree in digital journalism from Stanford University and passed CFA exams.