China's Zombie Business Privatisation Policy

This clip is fascinating documenting how one Chinese province, Liaoning, has started to privatise 'zombie' companies in the hope of returning them to profitability, rather than continuing to prop them up.

The company featured, Dongbei Steel has defaulted on bond interest repayments on ten separate occasions, however, that hasn't stopped Shen Wenrong from investing in the business and hoping to turn it around. If he can, it might give other entrepreneurs, and other provinces, greater confidence in tackling this sizeable problem.