A furnace at a factory of Dongbei Special Steel Group, one of the many mainland SOEs to have racked up huge debt burdens. Photo: Reuters

China’s private firms are succeeding where SOEs fail in race to reduce debt

S&P says the cost could be as much as 11.3 trillion yuan if China isn’t able to slow growth in corporate leverage

Topic |   China economy

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A furnace at a factory of Dongbei Special Steel Group, one of the many mainland SOEs to have racked up huge debt burdens. Photo: Reuters
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