China’s steel industry is flooded with overcapacity but many steelmakers have kept their furnaces running, even at a loss. Photo: Reuters

China’s zombie war: can Xi Jinping win the battle to eradicate industrial overcapacity?

The Communist Party’s Politburo has taken aim at the property glut and industrial excess, targeting them for elimination

Topic |   China economy

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China’s steel industry is flooded with overcapacity but many steelmakers have kept their furnaces running, even at a loss. Photo: Reuters
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