On May 16th, Luo Wen, the director of the State Administration for Market Regulation, pointed out in a document that currently, the vicious competition of “involution” undermines the fair competition order in the market, distorts resource allocation and price signals, and becomes an obstacle for enterprises to innovate and develop, and climb to the high end of the value chain. We must deeply recognize that the comprehensive rectification of “internal competition” is a systematic project. We must adhere to systematic policies, strengthen the collaborative governance of the government, enterprises, and industry associations, improve long-term mechanisms, fully stimulate the endogenous power and innovation vitality of various business entities, promote the better combination of effective markets and proactive governments, and form an economic order that is both “flexible” and “manageable”.
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