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Across China's chemical industry, between 2021 and 2025, operating profits fell by 55% and revenues barely grew, yet liabilities increased by 43% according to data from the NBS.

11/9/26, 1:54 pm1 repost1 like

Rhodium Group

@rhg.com

11 Sept

This has been made possible by Chinese banks keeping “zombie firms” alive through repeated loan rollovers, creating a deflationary spiral across the economy. Read more about how China's banks function as a policy tool:

rhg.comThe Banks Behind the China ShockBeijing has not delivered on its promised reforms to its banking system, but has instead tightened control over banks and molded them into policy tools, imposing consequences on both China's economy a...