Latest news with #ChineseLeaders
LBCI
2 hours ago
- Politics
- LBCI
China, EU vow to 'step up efforts to address climate change'
China and the European Union vowed on Thursday to "step up" action to address climate change, according to a joint statement released as Beijing hosted the bloc's leaders for a one-day summit. Chinese and European leaders "reiterate that in the fluid and turbulent international situation today, it is crucial that all countries... step up efforts to address climate change", the statement said. AFP
Yahoo
4 hours ago
- Business
- Yahoo
China releases draft law amendment to help curb price wars
BEIJING (Reuters) -China released a draft amendment to its pricing law on Thursday as part of efforts to curb excessive competition and price wars among firms, amid persistent deflationary pressures. Chinese leaders have signaled they will rein in price wars among producers as expectations grow for a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation - a move that could pose risks to economic growth. Under the proposed revisions, apart from lawful discounts on seasonal or overstocked goods, or other legitimate reasons for price cuts, firms will be prohibited from selling below cost to drive out competitors or monopolise the market, and from forcing others to adopt similar pricing practices. The draft law, published on the website of the National Development and Reform Commission (NDRC) - the state planner, also stipulates that firms cannot use data, algorithms, or technology to engage in improper pricing behaviors. The NDRC and the State Administration for Market Regulation said in a statement that China's economic landscape has changed significantly since the current pricing law was adopted in 1998. "The vast majority of goods and services prices are now formed by the market, new economic forms and business models are constantly emerging, and issues such as disorderly low-price competition in some industries have become prominent," they said. China will refine standards for identifying price collusion, price gouging, price discrimination and other unfair pricing practices, and take steps to address "involution-style" competition, the state agencies said. The draft amendment, which is open for public comment until August 23, also proposes tougher penalties for unfair pricing practices, including higher fines for violations of clear price marking requirements. China's producer prices dropped for the 33rd month in June. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 hours ago
- Business
- Reuters
China releases draft law amendment to help curb price wars
BEIJING, July 24 (Reuters) - China released a draft amendment to its pricing law on Thursday as part of efforts to curb excessive competition and price wars among firms, amid persistent deflationary pressures. Chinese leaders have signaled they will rein in price wars among producers as expectations grow for a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation - a move that could pose risks to economic growth. Under the proposed revisions, apart from lawful discounts on seasonal or overstocked goods, or other legitimate reasons for price cuts, firms will be prohibited from selling below cost to drive out competitors or monopolise the market, and from forcing others to adopt similar pricing practices. The draft law, published on the website of the National Development and Reform Commission (NDRC) - the state planner, also stipulates that firms cannot use data, algorithms, or technology to engage in improper pricing behaviors. The NDRC and the State Administration for Market Regulation said in a statement that China's economic landscape has changed significantly since the current pricing law was adopted in 1998. "The vast majority of goods and services prices are now formed by the market, new economic forms and business models are constantly emerging, and issues such as disorderly low-price competition in some industries have become prominent," they said. China will refine standards for identifying price collusion, price gouging, price discrimination and other unfair pricing practices, and take steps to address "involution-style" competition, the state agencies said. The draft amendment, which is open for public comment until August 23, also proposes tougher penalties for unfair pricing practices, including higher fines for violations of clear price marking requirements. China's producer prices dropped for the 33rd month in June.
Arab News
6 hours ago
- Politics
- Arab News
China, EU vow to ‘step up efforts to address climate change'
BEIJING: China and the European Union vowed on Thursday to "step up" action to address climate change, according to a joint statement released as Beijing hosted the bloc's leaders for a one-day summit. Chinese and European leaders "reiterate that in the fluid and turbulent international situation today, it is crucial that all countries... step up efforts to address climate change", the statement said.
South China Morning Post
06-07-2025
- Business
- South China Morning Post
Singapore can play a greater role in shaping post-unipolar world
Published: 4:30pm, 6 Jul 2025 Updated: 8:15pm, 6 Jul 2025 The recent visit of Singaporean Prime Minister Lawrence Wong to China reaffirmed the strategic depth of the China–Singapore relationship. His meetings with Chinese leaders underscored a readiness to work together to uphold the principles of free trade and multilateralism. But beyond symbolism, this visit raised critical questions. What role will Singapore now play on the global and regional stage? What new possibilities does this moment unlock? As geopolitical rivalry hardens and the risks of global fragmentation grow, Singapore's strategic position as a mediator, convenor and facilitator is becoming more important. Rather than simply hosting dialogues or taking part in frameworks, Singapore must step forward and shape them. It can draw on its unique positioning: rooted in Southeast Asia yet globally engaged, trusted by both East and West and respected for its competence, discretion and policy independence . Consider the opportunities presented by Wong's visit, including expanding training programmes between the Singapore and Chinese governments and helping export the joint business management, shared investment and industrial zoning model of the Suzhou Industrial Park . Singapore is already adept at blending governance expertise with China's industrial scale. These initiatives must not remain technocratic exercises. They should serve as platforms to elevate standards in transparency, sustainability and local empowerment across countries along the Belt and Road Initiative. Singapore can help redefine connectivity, not as a contest of influence but as a laboratory for inclusive development. Singapore has long navigated a careful path between China, its largest trading partner, and the United States, its foremost security partner . This balancing act is about more than survival – it is about leverage. Wong's trip to Beijing affirms that Singapore is not a bystander in great power competition, it is a potential promoter of shared frameworks that reduce risk and enable cooperation, even amid rivalry.
