The Chinese government is getting set to trim the fat of the economy, despite opposition by vested interests such as employees of such companies and local governments, according to the Nikkei Asian Review. Acting in concert with the administration of President Xi Jinping, the securities regulatory authorities have started addressing the long-standing problem of so-called “zombie” unprofitable state-owned companies that have been acting as a chronic weight on the Chinese economy. The first casualty was ZhuHai BoYuan Investment, which the Shanghai Stock Exchange decided on March 21 to delist. The company reportedly began to pad its assets, revenue and profit in around 2010, even so far as forging a bank bill.
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