GreenergyDaily

Jul. 30, 2025

China's top leaders have pledged to support an economy facing various risks by managing disorderly competition among firms and beefing up capacity management in key industries in the year's second half, the official news agency Xinhua said.

Chinese leaders have signalled they will rein in price wars among producers as expectations grow for a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation, a move that could pose risks to economic growth.

It was citing a summary of the proceedings of a meeting of China's Politburo, a top decision-making body of the ruling Communist Party, whose July gathering sets the economic course for the rest of the year.

It will promote technological innovation to drive development of new quality productive forces and speed cultivation of emerging pillar industries that are globally competitive, while curbing disorderly competition among firms.

"Disorderly competition among enterprises must be governed according to laws and regulations," the summary read. "Capacity management in key industries should be advanced."