Financial deleveraging was one of key goals outlined in President Xi Jinping’s supply-side structural reform plan launched in 2015. Photo: Bloomberg

China’s debt-cutting efforts are sinking private companies, while debt-ridden state firms float on

Of the seven companies that experienced their first bond default this year, six were privately owned, ratings agency says

Topic |   China economy

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Financial deleveraging was one of key goals outlined in President Xi Jinping’s supply-side structural reform plan launched in 2015. Photo: Bloomberg
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