China’s Market Regulator Holds Symposium on Fair Competition with Major Companies

China’s State Administration for Market Regulation (SAMR) convened a symposium on fair competition with executives from seven leading companies, including Alibaba and LONGi Green Energy, the agency announced on Wednesday. The meeting, held on Tuesday, focused on discussions surrounding market conditions, competition, and challenges faced by businesses, according to Reuters.

Executives from Trina Solar, JA Solar, JD.com, BAIC Group, and Mercedes-Benz also participated in the symposium, per Reuters. During the discussions, attendees put forward recommendations to combat monopolistic practices and unfair competition.

The SAMR reiterated its commitment to fostering a more equitable market landscape, with Meng Yang, the regulator’s deputy director, stating that such seminars would be held regularly to address corporate concerns and improve regulatory measures.

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The Chinese government has been encouraging private enterprises to boost investment and innovation as part of broader efforts to counter economic slowdowns and U.S. restrictions on China’s technological advancements.

Last week, President Xi Jinping met with several of the country’s top entrepreneurs, including Alibaba co-founder Jack Ma, in what marked a significant shift in Beijing’s stance toward its major tech firms following a period of intense regulatory scrutiny that began four years ago.

In addition to fostering a fairer competitive environment, China has also recently introduced a plan aimed at stabilizing foreign investment, per Reuters.

Source: Reuters