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FINANCE

China’s Capital Efficiency Grows for First Time in 10 Years

By Leng Cheng
China is still being pulled by competing needs — economic growth, financial deleveraging and reform, and social stability — but efficiency might again end up on the back burner, said Michael Taylor, chief credit officer of Moody’s Investors Service. Photo: Caixin
China is still being pulled by competing needs — economic growth, financial deleveraging and reform, and social stability — but efficiency might again end up on the back burner, said Michael Taylor, chief credit officer of Moody’s Investors Service. Photo: Caixin

For the first time in at least a decade, the Chinese economy can now produce the same level of output with less capital than the previous year.

However, as China is still being pulled by competing needs — economic growth, financial deleveraging and reform, and social stability — but efficiency might again end up on the back burner, said Michael Taylor, chief credit officer of Moody’s Investors Service.

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