A report from the European Chamber of Commerce said the Chinese government has not acted swiftly enough to tackle overcapacity in the country’s steel industry.
The issue of local protectionism across China's 31 competing provinces and autonomous regions raises concerns regarding the central government's ability to effectively implement coherent and effective policies, the European trade body report said.
China will need over six years to clear its massive inventory of unsold property which continues to rise, according to Wang Yiming, vice-minister of the State Council’s Development Research Center.
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