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. Last Updated: 07/27/2016

Chinese Firms Struggle

BEIJING -- About half of China's collectively owned enterprises, until recently a vibrant force in the economy, face bankruptcy, an influential state-run newspaper reported Thursday.

Many of China's 313,000 collectives are inefficient and crumbling under mounting debts, the China Economic Times reported. It said that about half are on the verge of bankruptcy, and only 55,000 of the firms have more capital than liabilities.