By Huan Xiang from People’s Daily-Chinese President Xi Jinping reiterated on Tuesday the central government’s determination to
weed out “zombie companies” that have been holding back economic reforms, in a bid to move
forward its plan to reduce excess industrial capacity.
Xi made the comment at a meeting of the Central Leading Group on Finance and Economic
Affairs, while describing those companies as "bull's nose."
"Zombie company" refers to a company that needs bailouts to operate, or an indebted company