In December, the Chinese government set a goal of closing zombie state-owned enterprises by the end of 2020. Photo: Bloomberg

China steps up efforts to close failed zombie companies by 2020, but faces harsh economic reality

  • Liquidation plans for state-owned enterprises in regions including Hebei, Heilongjiang, Henan and Shaanxi underway, local media report
  • Analysts warn that closing firms that may ‘exceed 20,000 cases’ during economic slowdown may exacerbate fears of increasing unemployment
Topic |   China economy

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In December, the Chinese government set a goal of closing zombie state-owned enterprises by the end of 2020. Photo: Bloomberg
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