Japan’s main measures to tackle the issues relating to “zombie enterprises” and enlightenment
【Abstract】Against the backdrop of changed international economic environment and adjusted development models, Japan experienced three crises relating to large-scale zombie enterprise．To tackle these crises, Japan gave full play to role of market in selecting enterprises that needed to go bankrupt or to be reorganized．During this process, Japan paid special attention to the re-training and job placement of laid-off workers. It also established some ad hoc institutions to implement laws and regulations for these crises. Based on its own characteristics, China can learn from Japan to address the issues relating to “zombie enterprise.”
【Keywords】 zombie enterprises; overcapacity; reorganization; financial dilemma; revitalization agencies; zombie enterprises; excess capacity; reorganization; financial distress; regeneration institution;
. ① Such as mergers and acquisitions of enterprises, sustained loans from banks and subsidies from local governments. [^Back]
. ② Such as other healthy enterprises, commercial banks and local governments. [^Back]
. ① Japan’s national average land price refers to the average land price of all cities in Japan. [^Back]
. ② Six metropolises are Tokyo Area, Yokohama, Nagoya, Kyoto, Osaka and Kobe. [^Back]
. ③ In Figures 2–5, the land price index of March 2000 is set to 100. [^Back]
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