Chinese leaders warn against ‘disorderly competition’ among local enterprises

Communist Party of China Central Committee Political Bureau discusses key industries in meeting chaired by President Xi, which comes after Beijing-Washington, DC, agreed to extend tariffs beyond Aug. 12 deadline

By Saadet Gokce

ISTANBUL (AA) - Chinese leaders on Wednesday warned against "disorderly competition" among local enterprises, state-run news agency Xinhua reported.

"Disorderly competition among enterprises" must be addressed "in accordance with laws and regulations," said the Communist Party of China Central Committee Political Bureau during a meeting, which was chaired by President Xi Jinping.

"China's development is facing profound and complex changes, as strategic opportunities, risks, and challenges are concurrent and uncertainties and unforeseen factors are rising," the report said.

"Macroeconomic policies should continue to exert force and be strengthened "when appropriate, it added.

The meeting also highlighted the importance of promoting capacity management in key industries.

The meeting took place amid ongoing tariff tensions with the US.

Beijing and Washington, DC, agreed on Tuesday to extend their tariff truce beyond the August 12 deadline.

China, earlier this year, set an "around 5%" GDP growth target for the East Asian nation.

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