Europe’s Top Business Lobby in China Urges End to Price Wars

The European Union Chamber of Commerce in China, the top business lobby group, has called on Beijing to address the issue of price wars and unsustainable competition in the country. This comes as China prepares to unveil its next five-year plan, and amid ongoing pressure from the United States over the same matter. The lobby group stated that price wars and excessive competition have become a significant problem in various industries, leading to unsustainable business practices and hampering the development of a healthy, innovative market. The chamber urged the Chinese government to take measures to address these concerns, as they believe it is crucial for the country's economic growth and competitiveness. The lobbying effort from the European business community adds to the pressure from the United States, which has also raised concerns over China's market practices. As China charts its economic course for the next five years, the issue of fair competition and sustainable growth has become a key focus for both domestic and international stakeholders.