Chinese premier chairs meeting on internal circulation, NEV industry competition

Chinese Premier Li Qiang on Wednesday presided over a State Council executive meeting that studied the implementation of key policy measures aimed at strengthening domestic economic circulation, and reviewed measures to enhance the regulation of market order in the new energy vehicle (NEV) sector.

The meeting emphasized the need to advance the special initiatives to boost consumption, improve trade-in policies for consumer goods, and provide diversified services that meet various consumption needs of residents.

It called for efforts to expand investment in new quality productive forces and emerging services to fully unleash the potential of domestic demand.

During the meeting, a briefing was heard on the preliminary rectification of problems identified in the audit of the implementation of the 2024 central budget and other fiscal revenues and expenditures.

To spur the high-quality development of the NEV sector and curb irrational competition, the meeting called for stronger regulation of market order, strengthening cost survey and price monitoring, and improving long-term mechanism on regulated competition.

It also reviewed and approved a draft regulation on the entry and exit of foreigners.