稳电价、稳煤价！国资委带头抵制“内卷式”竞争，国企须走差异化发展与品牌竞争之路

Core Insights - The meeting led by Zhang Yuzhuo, Director of the State-owned Assets Supervision and Administration Commission (SASAC), focused on stabilizing electricity and coal prices, preventing "involution" competition, and promoting high-quality development among state-owned enterprises [3][4]. Group 1: Price Stabilization - The central government has emphasized the need to regulate low-price disorderly competition and promote the exit of backward production capacity in the coal industry, indicating that "anti-involution" is now actionable [4]. - The coal market has seen significant price declines this year, with some coal enterprises in eastern regions facing severe losses, highlighting the need for attention [4]. - The National Energy Administration has noted that the coal supply-demand situation is generally loose, with prices continuing to decline, and some coal mines are producing beyond their announced capacity, disrupting market order [4]. Group 2: Economic Indicators - In August, the Producer Price Index (PPI) fell by 2.9% year-on-year, with the decline narrowing by 0.7 percentage points compared to the previous month, marking the first narrowing since March [5]. - Coal processing prices increased by 9.7%, while coal mining and washing prices rose by 2.8%, indicating a shift in pricing dynamics [5]. - The construction of a new type of power system is being accelerated to ensure energy security and promote the clean and efficient use of various energy sources [5][6]. Group 3: Addressing Involution - "Involution" competition is prevalent in sectors such as energy, construction, and manufacturing, where companies engage in blind expansion or aggressive bidding that undermines quality and profitability [7]. - SASAC has initiated measures to combat "involution" by focusing on institutional development and incentive guidance, aiming to enhance operational strategies and improve efficiency [7][8]. - The government aims to optimize the investment structure, focusing on key areas such as infrastructure and energy resource security, while promoting digital and green upgrades [9].