“We remain cautious about the sustainability of the recent improvement, worrying that much fragility persists,” Alistair Thornton and Ren Xianfang (任現芳), Beijing-based analysts with IHS Global Insight, said after the data release.
“Whilst activity is resuming, economic efficiency is declining,” they added, saying that in many parts of the economy, local state-owned enterprises are “riding to the rescue of debt-laden firms which, in a pure market economy, would be going bust.”
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