Zhejiang has achieved zero stock of "zombie enterprises"

Hangzhou, 29 Oct (Xinhua) -- A reporter recently learned from the Zhejiang Provincial Development and Reform Commission that in accordance with the principles of marketization, rule of law, facilitation, and risk control, Zhejiang has steadily promoted the reform of the system for the withdrawal of market entities, and has now completed the disposal of "zombie enterprises" included in the national key disposal list, and has achieved zero stock of "zombie enterprises."

"Zhejiang will deepen the reform of the withdrawal system of market entities as an important part of promoting the market-oriented allocation of factors and optimizing the business environment." Li Jun, deputy director of the Zhejiang Provincial Development and Reform Commission, introduced that Zhejiang has solved the problem of difficulties in withdrawing market entities through the linkage work mechanism between the government and the hospital, optimizing the reform policy of the withdrawal system of market entities, etc.

By the end of 2020, Nearly 13,000 bankruptcy cases had been filed in Zhejiang Province, involving more than 18,000 enterprises. Among them, from 2014 to the end of 2020, the province wrote off a total of 466.115 billion yuan of financial claims, disposed of 151,400 mu of land, disposed of 40,539,000 square meters of houses, and resettled 101,000 employees through bankruptcy procedures.

While broadening the channels for enterprises to "exit" the market in an orderly manner, Zhejiang has continuously solved the financing problems of small and medium-sized enterprises by improving the efficiency of the market-oriented allocation of capital factors, and injected a steady stream of living water into enterprises.