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China's Economic Official Calls for Action Against Vicious Competition

share-iconPublished: Tuesday, December 31 share-iconUpdated: Tuesday, December 31 comment-icon1 year ago
News sources:
SCMP
China's Economic Official Calls for Action Against Vicious Competition

Credited from: SCMP

  • China is facing challenges from **low-quality competition**, referred to as **neijuan** or "involution", leading to reduced profitability.
  • Han Wenxiu, an economic official, stresses the need to **raise standards** in environmental protection and technology to stimulate growth.
  • Prominent figures like Li Shufu, founder of Geely, oppose vicious competition and call for **technological innovation** over price wars.
  • Industries such as **electric vehicles** and **photovoltaics** are particularly affected, with significant price cuts and output value declines reported.
  • The Chinese government is adopting a **proactive approach** to curb involution, marking a significant shift in regulatory focus.

Read more on the original article here.

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China Economy Competition Involution Economic development
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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