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Xi speaks out against excessive competition
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Xi speaks out against excessive competition
President Xi Jinping has called for the "orderly exit" of outdated production capacity and the curbing of disorderly price competition, Xinhua News Agency reported on Monday, citing an article written by Xi. China's leaders have pledged to put an end to aggressive price cuts by some Chinese companies, which regulators say are spurring excessive competition that is damaging the economy. "This is a severely affected area of 'involution' and must b…
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