China steps up efforts to curb disorderly price wars in NEV industry
BEIJING - The Chinese government has called for firmly curbing disorderly price wars in the new energy vehicle (NEV) sector in an effort to safeguard fair market order and guide the fast-growing industry toward high-quality development.
The Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State Administration for Market Regulation jointly convened a meeting on Wednesday to outline measures for regulating competition in the sector.
The meeting emphasized the need to adhere to an innovation-driven, quality-first development path and to foster a market environment in which quality products command reasonable prices under fair competition.
The government will intensify cost investigations and price monitoring, strengthen regulatory oversight and enforcement, enhance supervision over production consistency, and to deal strictly with companies that violate laws and regulations, according to the meeting.
Representatives from an industry association and 17 major automakers attended the meeting.
