China's zombie enterprises are clustered in industries burdened by debt and overcapacity, like iron, steel, aluminium and cement. Photo: Reuters
China's zombie enterprises are clustered in industries burdened by debt and overcapacity, like iron, steel, aluminium and cement. Photo: Reuters

China to tackle more than 2,000 zombie enterprises

The most important and market-moving stories from the Chinese-language media

November 21, 2016 9:44 AM (UTC+8)

A total of 2,041 state-owned companies have been identified as “zombie enterprises,” the Economic Observer reported at the weekend, citing the State Assets Supervision and Administration Commission. Together, their assets amounts to over 3 trillion yuan (US$435.52 billion) and the government will need to restructure their financial, labor, and asset matters.
国资委摸底僵尸企业:总数超2000家 资产3万亿

President Xi Jinping says China will remain open for business

China will continue to provide the world with a larger market and expanded business opportunities, President Xi Jinping said at the Asia-Pacific Economic Cooperation summit on Saturday in Peru. Over the next five years, imports will total US$8 trillion, use of foreign capital US$600 billion, overseas investment US$750 billion, and outgoing tourists will reach 700 million people, reported the Securities Daily.
习近平:中国经济发展新动力正在强化

Regulator cracks down on market manipulation

Cases of stock market manipulation surged 68% in the first half of this year to 52 incidents as the China Securities Regulatory Commission started a crackdown, reported Xinhua news agency. A total of 26 offenders faced administrative punishment.
今年以来证监会已对26宗市场操纵案进行行政处罚

Index futures “linked” to stock crash last year

China’s stock market crash last year was “heavily linked” to stock index futures trading, according to Nie Qingping, the head of China Securities Finance Corp, Caixin reported Sunday evening. His comments come amid pressure to ease regulations on the index futures market.
证金公司董事长称期指与股灾“有很大关联” 业内存争议

Vanke Chairman implies Baoneng under regulatory pressure

China Vanke Co. Chairman Wang Shi said the company is choosing a route of “mixed ownership” and that Baoneng Group faces regulatory pressure over its hostile bid for Vanke, Sina Finance reported on November 20.
王石罕见发声有深意:重申万科混合所有制 对华润措辞温和

Comments