It’s nice to see that, while leaders come and go, some things remain the same, namely, the growing number of spinning plates the Chinese government attempts to keep from crashing to the floor (a.k.a. the credit and infrastructure binge that future historians will marvel at).
Bloomberg provides the details in this story that includes the graphic below.
SOE: State Owned Enterprise, FAI: Fixed Asset Investment
Of course, to the enlightened modern-day Western (and, apparently, Chinese) economist, there is no such thing as “malinvestment”, so, there’s that…