US EditionChina Communist Party magazine calls for crackdown on price wars
- Last week, the People's Daily published an editorial condemning 'involution' in competition, followed by Xi Jinping-led meeting pledging to curb low-price, disorderly rivalry.
- Economists have warned that high state-guided investment and weak domestic demand lead to a deflationary spiral from aggressive price cuts by Chinese businesses.
- The People's Daily editorial and Qiushi journal highlight that price wars harm wages, tax revenue, and cause social resource waste, risking long-term growth.
- In response to price war concerns, China’s leadership pledges to curb aggressive competition, aiming to stabilize industries and prevent factory closures and wage declines.
- Analysts expect China to announce measures in the coming months as the government pledges to curb price wars to stabilize the economy.
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China Communist Party magazine calls for crackdown on price wars
A prominent Chinese Communist Party publication called for a crackdown on competition that fuels price wars and squeezes profits in various industries, criticising large companies and local governments for unfair practices.
·United Kingdom
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Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
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- 83% of the sources are Center
83% Center
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C 83%
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