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China should continue to reduce excess capacity, curb credit, lower debt leverage in the corporate sector and reform state-owned enterprises, said Sudhir Shetty, chief economist of the World Bank's East Asia and Pacific Region.
China produced 262.93 tons of gold in the first nine months, a decrease of 12.42 tons or 4.51 percent compared to the same period last year. The association said this is mainly due to the pandemic, which also caused disruptions in normal operations at gold mines.

China will be deeply involved in global economic and financial governance, and safeguard multilateralism, he said.
China will comprehensively reform the supervision and management of fire control work, step up management at the source, and prevent and defuse risks, according to the guideline.
China should consider setting up a 100 billion yuan ( billion) enterprise exit fund to ensure better management of its over 6 trillion yuan of non-performing assets, said Li Daokui, an economist at Tsinghua University and a former Chinese central bank monetary policy committee member.Li, who is also a top political advisor, said the fund could be used for employee resettlement, salaries and welfare and would encourage local governments to dismantle inefficient firms.Though the nation has gained immense experience from its 40 years of reform and opening-up by encouraging new players, it has always faced challenges due to the presence of a large number of inefficient firms.There are still many zombie enterprises, or unprofitable firms that are reeling from mismanagement or overcapacity and are straddled with a high level of debt. About 5 to 10 percent of the companies in the industrial sector have racked up debts of over 6 trillion yuan, he said.According to a document published by the State-owned Assets Supervision and Administration Commission of the State Council in 2016, there are around 2,041 zombie subsidiaries of central enterprises in the nation with assets of over 3 billion yuan. However, only 265 of them were asked to file for bankruptcy and restructuring, accounting for just 12.9 percent of the total, he said.Li said the best way to solve the problem of zombie enterprises is the disposal of nonperforming assets.Despite the government taking steps to curb growth of non-performing assets, mushrooming non-performing loans are compounding matters and led to a growth in the non-performing loan balance of around 50 billion yuan in 2017.To better address the problem, Li said that commercial banks must be urged to dispose of a certain ratio of nonperforming assets each year.According to Li Jin, chief researcher at the China Enterprise Research Institute, central SOEs eliminated 1,200 zombie subsidiaries in 2017.The steel industry has already eliminated zombie capacity totaling 5.95 million metric tons, while the figure in the coal industry was 27 million tons.The SASAC has set a target of reducing the average debt-asset ratio of central SOEs by 2 percentage points prior to 2020.Luo Wangshu contributed to this story.
来源:资阳报