Chinese President Xi Jinping chaired a meeting of the Central Financial and Economic Affairs Commission, emphasizing the advancement of a unified national market and the development of a high-quality marine economy. Xi highlighted the need to regulate unfair low-price competition, which has led to deflationary price wars across various industries, including the solar panel sector. He called for urgent measures to curb disorderly low-price competition that damages profitability and undermines industrial stability. A prominent Chinese Communist Party publication criticized both large companies and local governments for engaging in unfair competitive practices. Xi also stressed the importance of strengthening the real economy as the foundation of national power, underscoring that neither the real economy nor traditional industries should be neglected. These statements reflect a broader effort by China’s top leadership to boost domestic demand, improve product quality, and phase out harmful market behaviors to support sustainable economic growth.
China's Xi calls for developing real economy, traditional industries, Xinhua reports https://t.co/l0vHeO2aYV https://t.co/l0vHeO2aYV
🇨🇳CHINA'S XI: STRESSES DEVELOPING REAL ECONOMY TO BUILD UP NATIONAL STRENGTH. THE REAL ECONOMY SHOULD NOT BE ABANDONED, NOR SHOULD THE TRADITIONAL INDUSTRIES - XINHUA #CHINA $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG https://t.co/LNCvewcEJu https://t.co/CC2MBCzaws
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