Chinese Premier holds meeting to review NEV sector regulation focusing on strengthening domestic economy.
Chinese Premier Li Qiang chaired a State Council executive meeting on Wednesday, focusing on key policy implementations aimed at boosting domestic economic circulation and reviewing regulatory measures for the new energy vehicle (NEV) sector.
The meeting stressed the importance of advancing initiatives to stimulate consumption, refining trade-in policies for consumer products, and offering varied services to cater to the diverse needs of consumers.
It also highlighted the need to increase investment in high-quality productive forces and emerging service industries to fully tap into the potential of domestic demand.
Officials reviewed a report on the initial steps taken to address issues uncovered during the audit of the 2024 central budget and other fiscal matters.
To support the healthy development of the NEV industry and curb harmful competition, the meeting urged enhanced market regulation, more thorough cost and price monitoring, and the establishment of long-term mechanisms to ensure fair competition.
Additionally, the meeting approved a draft regulation concerning the entry and exit of foreign nationals.
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