China has signalled its plans to up the ante in its fight to stamp out the excessive, cutthroat competition plaguing its economy, with the issue becoming a focus at one of the country’s most important political events of the year.
Premier Li Qiang vowed to launch a “comprehensive crackdown on neijuan” during his work report to the National People’s Congress on Wednesday – the first time the premier has mentioned the concept in his agenda-setting annual address.
The once-obscure concept has become a catch-all term to describe the chronic overcapacity and vicious price wars affecting a wide range of industries in China, including electric vehicles and solar energy.
But this is the first time the term has been used in a government work report to the NPC – the annual meeting of China’s top legislature in Beijing.
