China's premier urges tighter price oversight as deflation pressures squeeze economy
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最新报道：Chinese Premier Li Qiang called for an end to excessive price-cutting practices as deflationary pressures continue to weigh on the economy. Speaking at a State Council meeting, Li emphasized the need to stabilize prices and maintain healthy market competition, warning that prolonged price wars could harm businesses and employment. The remarks come as China's consumer prices fell for the fifth consecutive month in June, with factory-gate prices dropping 2.8% year-on-year. Economists warn the persistent deflation reflects weak domestic demand, raising concerns about "involution" - a term describing intense competition without real growth. The government plans to boost fiscal stimulus and domestic consumption to counter economic headwinds.
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