Against "involution" vicious competition, China Association of Automobile Manufacturers issues important initiative

On May 31st, it was learned from the China Association of Automobile Manufacturers that in response to the "involution" competition in the industry, the association issued an important initiative. Enterprises should not adopt disorderly "price wars" and should maintain a fair competition order. The four proposals put forward by the association include: First, all enterprises strictly abide by the principle of fair competition and carry out business activities in accordance with laws and regulations; second, superior enterprises do not monopolize the market, squeeze the living space of other entities, and damage the legitimate rights and interests of other operators; third, enterprises do not dump goods at a price lower than cost, and do not engage in false propaganda to induce consumers, disrupt market order, and damage the fundamental interests of the industry and consumers; fourth, all enterprises should conduct self-inspection and rectification in accordance with relevant national laws and regulations.