President Xi Jinping’s hallmark economic policy focusing on supply-side structural reforms has achieved “solid progress” as fewer plants were idle and the debt ratio fell in 2017, according to a report from the National Bureau of Statistics.
While not all economists are convinced that Xi’s administrative measures can solve the country’s overcapacity and debt problems, the statistics agency said in its annual economic and social report that hard evidence shows the approach is working.
Among China’s coal mining facilities, 68.2 per cent were in operation at the end of the year, up 8.7 percentage points from a year earlier. As 2017 drew to a close, 75.8 per cent of steel plants were running, up 4.1 percentage points, according to the statistics agency…
Read more : SCMP, 01.03.2018