The rat-race competition will be further curbed as China is advancing the building of the unified national market, experts said in interviews following a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee held on Wednesday.
The meeting analyzed and studied the current economic situation and made arrangements for economic work in the second half of this year.
It also called for efforts to accelerate the cultivation of emerging pillar industries with global competitiveness, promote the deep integration and development of sci-tech and industrial innovation, and push forward the building of a unified national market.
China will further regulate disorderly competition among enterprises in accordance with laws and regulations, and advance the management of production capacity in key industries, according to the meeting.
Experts said the meeting has provided more concrete plans for advancing unified national market, particularly in optimizing market competition.
"Regarding rat-race competition, production capacity management will be conducted in key industries where problems are prevalent. Enterprise behavior should be regulated, and disorderly low-price competition should be addressed in accordance with laws and regulations," said Huang Hanquan, head of the Chinese Academy of Macroeconomic Research.
More reform efforts are needed to break down institutional barriers and clear blockages that hinder the efficient and free flow of goods and factors.
"We need to strengthen the regulatory role of pricing and enhance the guiding role of quality and standards, so that truly high-quality goods can play their roles in the market. At the same time, we need to enhance foresight and effectively guide the production-related capacity layout in accordance with market principles and the actual development needs of different regions," said Wei Qijia, director of the industrial economy research office at the State Information Center's Department of Economic Forecasting, which is under the National Development and Reform Commission.
Experts on CPC meeting's call for unified national market
Experts on CPC meeting's call for unified national market
