China Takes a Stand Against 'Disorderly' Price Competition
China announced measures to curb 'disorderly' price competition, urging businesses to maintain fairness in the market. The state planner and market regulator will assess the average cost of production in problematic industries and issue pricing guidelines, with penalties for companies engaging in unfair pricing activities.
- Country:
- China
China has issued a directive to limit 'disorderly' price competition among companies, emphasizing the importance of maintaining a fair and orderly market. This initiative was announced through a notice from the country's state planner and market regulator.
The regulatory bodies plan to evaluate the average cost of production across various industries where chaotic pricing strategies are a significant concern. By doing so, they aim to offer 'reasonable pricing' guidelines to businesses, although specific industries have not been mentioned.
In addition to setting guidelines, authorities will also monitor firms suspected of engaging in disruptive pricing practices, and those found guilty will face warnings, supervision, or penalties, according to a separate statement from the state planner.
(With inputs from agencies.)
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