BEIJING (Reuters) -China pledged on Thursday to rein in “disorderly” price competition, urging companies to maintain a fair and orderly market, according to a notice released by the country’s state planner and market regulator.
Authorities may evaluate the average cost of production in industries for which disorderly competition is a prominent issue and provide guidelines on “reasonable pricing” to companies, the agencies said. It did not specify any industries.
Authorities will warn, supervise and penalise firms suspected of engaging in disorderly pricing competition, the state planner said in a separate statement.
(Reporting by Beijing Newsroom; Editing by Susan Fenton)
