国进民退

BEIJING ACCUSED OF ATTACKING PRIVATE ENTERPRISE

Beijing is facing a growing backlash from prominent figures in business and academia over claims that there has been creeping renationalisation in parts of the economy during the last year.

China's economy has recovered sharply in recent months as a result of an unprecedented expansion of government-directed bank lending, which has largely been channelled to state-owned enterprises.

However, critics say that the stimulus measures have also been accompanied by the state reasserting control over some sections of the economy, which could hurt the country's long-term growth prospects.

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