China acts to curb excessive competition, support private economy
2025-05-21 11:55:21 [Print]
Starting May 20, the newly passed Private Sector Promotion Law officially comes into effect, marking a new stage in China's private sector development. The National Development and Reform Commission (NDRC) will actively promote legal awareness, implement supporting policies, address the concerns of private enterprises, and roll out a series of high-quality development measures by the end of June.
At present, some industries are facing severe "involution", an intense, inefficient competition, with enterprises resorting to price wars, counterfeiting, and substandard practices that disrupt market order. In response, the NDRC is launching a targeted campaign focusing on four key areas:
Innovation-Driven Development: Accelerate industrial upgrading, support technological innovation, and help enterprises improve product quality and core competitiveness.
Eliminating Local Protectionism: Enforce the guidelines for building a unified national market, strictly prohibit illegal preferential policies in areas such as taxation, land, and pricing.
Optimizing Industrial Structure: Curb the expansion of outdated and low-efficiency capacity, promote industry consolidation, and guide the healthy development of key sectors. Conduct thorough scientific assessments for new capacity projects in industries such as coal-to-chemicals and alumina.
Strengthening Regulation and Enforcement: Crack down on counterfeit and low-quality products, combat unfair competition, and safeguard a fair and orderly market environment.
At present, some industries are facing severe "involution", an intense, inefficient competition, with enterprises resorting to price wars, counterfeiting, and substandard practices that disrupt market order. In response, the NDRC is launching a targeted campaign focusing on four key areas:
Innovation-Driven Development: Accelerate industrial upgrading, support technological innovation, and help enterprises improve product quality and core competitiveness.
Eliminating Local Protectionism: Enforce the guidelines for building a unified national market, strictly prohibit illegal preferential policies in areas such as taxation, land, and pricing.
Optimizing Industrial Structure: Curb the expansion of outdated and low-efficiency capacity, promote industry consolidation, and guide the healthy development of key sectors. Conduct thorough scientific assessments for new capacity projects in industries such as coal-to-chemicals and alumina.
Strengthening Regulation and Enforcement: Crack down on counterfeit and low-quality products, combat unfair competition, and safeguard a fair and orderly market environment.
