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China Confronts Overcapacity by Addressing Excessive Competition in Key Sectors

share-iconFriday, January 10 comment-icon1 week ago 8 views
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China Confronts Overcapacity by Addressing Excessive Competition in Key Sectors

Credited from: SCMP

  • China's economic transformation boosted GDP from US$361 billion in 1990 to US$17.8 trillion by 2023, lifting millions from poverty.
  • The rapid growth led to overcapacity and intense competition, especially in sectors like solar panels and electric vehicles.
  • Recent market reforms aim to create a unified national market to enhance fair competition and regulate against monopolistic practices.
  • China's government recognizes the need to balance competition while fostering innovation and safeguarding economic stability amid external pressures.
  • Effective implementation of these reforms will have ripple effects on Hong Kong and international markets as they adjust to new competitive dynamics.

Read the full article at South China Morning Post.

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China Economy Overcapacity Competition Market reform Electric vehicles E-commerce
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Atlas Winston

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