China wants to kill off — or possibly revive — its lurching horde of "zombie" companies by 2020, Caixin's Dong Jing and Leng Cheng write.
Zombie company is a term used to describe an unprofitable enterprise that would go out of business without ongoing bank loans or government support. In early 2016, the state-owned Assets Supervision and Administration Commission said there were 2,041 such companies. The central government has given local governments three months to submit a list of zombies. They have to be restructured or disposed of by 2020.