– Chinese Bankruptcies Surge More Than 50% In Q1; Worse To Come:
Chinese bankruptcies have surged this year “as the government uses the legal system to deal with “zombie” companies and reduce industrial overcapacity as part of a broader effort to restructure the economy.” In just the first quarter of 2016, Chinese courts have accepted 1,028 bankruptcy cases, up a whopping 52.5% from a year earlier, according to the Supreme People’s Court.
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Tags: China, Economy, Global News, Government, Politics
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