A surge in bankruptcy cases in Chinese courts last year is welcome progress. The lack of creative destruction in China has been a perennial problem, exacerbating industrial overcapacity and piling mountains of bad loans on to the banking system.
去年中國(guó)法院審理破產(chǎn)案件出現(xiàn)激增是一項(xiàng)可喜進(jìn)步。缺乏創(chuàng)造性破壞在中國(guó)是一個(gè)長(zhǎng)期存在的問(wèn)題，加劇產(chǎn)能過(guò)剩，給銀行系統(tǒng)造成堆積如山的壞賬。
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