It’s rare that a campaign backed by China’s President Xi Jinping comes up short. Yet more than a year after he put his personal stamp on an unprecedented push to cajole banks into lending more to small- and medium-sized companies, they’re still starved of funds. That’s in large part because the effort collided with another Xi-backed campaign: to curb risks in the financial system. The result is a setback for Xi’s government, which wants a vigorous private sector to help counter the slowest econo
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