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China's state-run zombies alive, not well, in the northeast

Local resistance thwarts efforts to introduce private shareholder vigor

Dongbei Special Steel, a state-owned company that collapsed in 2016, was rescued when Jiangsu Shagang took a 43% stake the following year.   © Reuters

DALIAN, China -- Reforms to state-owned companies in northeastern China have stalled, along with the region's economic growth.

Compared with other regions in China, the government's "mixed-ownership reforms," which seek to bring private shareholders into state-owned companies, have been slow to take root, causing the region to underperform compared with other parts of the country.

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