December 4, 2015 / 11:51 AM / in 2 years

China's premier says will ruthlessly deal with zombie firms

BEIJING (Reuters) - China plans to spend around two years to tackle serious overcapacity in some industries and will ruthlessly deal with so-called zombie firms, Premier Li Keqiang said in remarks seen on Friday.

China's Premier Li Keqiang listens to the Chinese national anthem during a welcoming ceremony for Czech Prime Minister Bohuslav Sobotka at the Great Hall of the People in Beijing, China, November 27, 2015. REUTERS/Jason Lee

China’s survey-based unemployment rate had been gradually falling in the last three months, Li said in comments published on the central government’s website, but no details were given.

Reporting by Beijing Monitoring Desk and Kevin Yao; Editing by Nick Macfie

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