Chinese premier Li Qiang on Wednesday presided over a State Council executive meeting that zeroed in on strengthening domestic economic circulation and reining in irrational competition in the new energy vehicle (NEV) sector.
The session mapped out a broad set of moves to rekindle consumption, from improved trade-in policies for consumer goods to tailored services that meet everyday needs—from smartphones to eco-friendly vehicles.
Delegates also discussed ways to channel investment into new productive forces and emerging services, aiming to unlock the untapped power of domestic demand.
Officials received a briefing on preliminary audits of the 2024 central budget and other fiscal revenues and expenditures, highlighting areas where processes can be tightened.
To pave the way for a more robust NEV landscape, meeting attendees pledged to strengthen market order through cost surveys, price monitoring, and long-term mechanisms for regulated competition.
In a nod to China’s evolving role in global mobility, the cabinet reviewed and approved a draft regulation on the entry and exit of foreigners, signaling plans for more streamlined population flows.
Reference(s):
Premier Li chairs meeting on internal circulation, NEV competition
cgtn.com
