Regulatory Developments - The National Development and Reform Commission is seeking public opinions on the "Regulations on the Supervision and Management of Hydroelectric Dam Operation Safety," applicable to medium and large hydropower stations with a total installed capacity of 50,000 kilowatts and above [2] - The National Energy Administration has published a compilation of typical cases for electric power quality management, aimed at sharing successful experiences in managing electric power quality issues [2] Industry News - Three departments, including the Ministry of Industry and Information Technology, are taking steps to resist disorderly price wars in the new energy vehicle industry, emphasizing innovation and quality [2] - The Ministry of Natural Resources reported that China has exceeded its "14th Five-Year Plan" target for ecological restoration of historical mining sites, completing restoration of 3.35 million acres, which is 19.6% above the target [2] Energy Sector Updates - The People's Bank of China is expanding its carbon reduction support tool to include projects with direct carbon reduction effects, with an annual operation volume not exceeding 800 billion yuan [3] - The offshore wind power grid connection capacity in the Yangtze River Delta region is expected to exceed 19 million kilowatts by the end of 2025, with Jiangsu contributing the largest share [3] Water Resource Management - The South-to-North Water Diversion Project's eastern route has officially started its water diversion work for the 2025-2026 period, planning to increase water supply by 1.638 billion cubic meters [4] Power Load Records - The Heilongjiang power grid reached a maximum load of 18.728 million kilowatts, marking a historical high and a 25.1 thousand kilowatt increase compared to the previous winter peak [4] International Energy Market - The U.S. has officially begun selling Venezuelan oil, with the first transaction valued at $500 million, and more sales expected in the coming weeks [5] - OPEC forecasts that global daily oil demand will increase by 1.38 million barrels in 2026 compared to 2025, reaching 106.52 million barrels [5]

Group 1 - The core viewpoint of the article emphasizes the need for regulatory measures to standardize competition within the electric vehicle (EV) industry, focusing on innovation and quality while resisting chaotic price wars [1] - The meeting involved key stakeholders, including representatives from the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State Administration for Market Regulation, highlighting a collaborative approach to industry regulation [1] - The authorities plan to enhance coordination, strengthen cost investigations, and increase price monitoring to ensure a fair and orderly market environment, which is crucial for the high-quality development of the automotive industry [1]

Report Summary 1. Industry Investment Rating - No information provided 2. Core Views - The central bank will conduct a 900 billion yuan outright reverse repurchase operation on January 15, 2026, with a term of 6 months (181 days) to maintain ample liquidity in the banking system [3] - The Ministry of Finance and two other departments have extended the individual income tax policy to support residents in exchanging and purchasing housing from January 1, 2026, to December 31, 2027 [3] - Relevant departments have jointly held a symposium on new - energy vehicle enterprises to regulate the competition order in the new - energy vehicle industry and resist disorderly "price wars" [3] - China's foreign trade imports and exports reached 45.47 trillion yuan in 2025, with exports growing by 6.1% and imports growing by 0.5% [3] - The US November retail sales monthly rate and PPI reached new highs since July, exceeding market expectations [3] 3. Summary by Category Hot News - The central bank will conduct a 900 billion yuan outright reverse repurchase operation on January 15, 2026 [3] - The tax - refund policy for individual income tax on housing exchange and purchase is extended from January 1, 2026, to December 31, 2027 [3] - Relevant departments held a symposium on new - energy vehicle enterprises to regulate competition order [3] - China's 2025 foreign trade imports and exports reached 45.47 trillion yuan, with exports growing by 6.1% and imports growing by 0.5% [3] - The US November retail sales monthly rate was 0.6% and PPI was 3%, both new highs since July and exceeding market expectations [3] Plate Performance - Key focus: silver, tin, nickel, glass, palm oil [4] - Night - session performance: non - metallic building materials rose 1.99%, precious metals rose 35.57%, oilseeds and fats rose 7.52%, soft commodities rose 2.91%, non - ferrous metals rose 26.47%, coal, coke, steel and minerals rose 9.50%, energy rose 2.24%, chemicals rose 9.66%, grains rose 1.08%, and agricultural and sideline products rose 3.06% [4] Plate Positions - Information on the recent five - day position changes of commodity futures plates is presented through a chart [5] Performance of Major Asset Classes - Equity: The Shanghai Composite Index fell 0.31%, the SSE 50 fell 0.67%, the CSI 300 fell 0.40%, the CSI 500 rose 1.04%, the S&P 500 fell 0.53%, the Hang Seng Index rose 0.56%, the German DAX fell 0.53%, the Nikkei 225 rose 1.48%, and the UK FTSE 100 rose 0.46% [6] - Fixed - income: The 10 - year Treasury bond futures rose 0.08%, the 5 - year Treasury bond futures rose 0.04%, and the 2 - year Treasury bond futures were flat [6] - Commodities: The CRB commodity index rose 0.06%, WTI crude oil fell 0.07%, London spot gold rose 0.88%, LME copper rose 1.03%, and the Wind commodity index rose 6.05% [6] - Others: The US dollar index fell 0.11%, and the CBOE volatility index was flat [6] Stock Market Risk Appetite and Commodity Trends - Information on the trends of major commodities, including the Baltic Dry Index, CRB spot index, WTI crude oil, London spot gold, London spot silver, LME copper, CBOT soybeans, and CBOT corn, is presented through charts [7]

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The report provides a comprehensive analysis of various sectors including macro - finance, black commodities, non - ferrous metals, agricultural products, and energy chemicals, offering trading strategies and outlooks for different futures products based on market conditions, policies, and supply - demand dynamics [16][19][25] Summary by Directory Macro News - The margin ratio for margin trading is raised from 80% to 100%, and the policy of tax refund for home - swapping is extended to the end of 2027. Several top - valued tech firms are preparing for IPOs. China's 2025 foreign trade grows 3.8% year - on - year. The central bank will conduct a 900 - billion - yuan 6 - month repurchase operation. Three departments regulate the new energy vehicle industry. The US imposes a 25% tariff on some semiconductor imports. Tesla changes its FSD business model. The Fed's economic situation improves, and there are different views on interest rate adjustments among Fed officials. US economic data shows mixed trends, and OPEC maintains its 2026 oil demand growth forecast and releases the 2027 forecast [9][10][11] Macro Finance Stock Index Futures - On January 14, A - shares fluctuated, with the Shanghai Composite Index down 0.31%. The increase in margin ratio signals a market cool - down. If the index fails to form a counter - enveloping bearish line with further volume, it may enter an adjustment phase. Short - term trading should focus on volume and price, and consider taking profits [16] Treasury Bond Futures - The money market has become looser. The adjustment of margin ratio and the 900 - billion - yuan 6 - month repurchase operation are announced. With the expected decline in interest - rate cut and the upward shift of the capital center, the strategy of flattening the yield curve is maintained [17] Black Commodities Steel and Ore - Policy - wise, there are no new demand - side policies, and supply - side policy interference is unlikely. Fundamentally, steel demand shows off - season pressure, but short - term contradictions are not significant. Long - term downstream demand for steel is weak, except for some consumption of coil products. Iron ore supply shows a port inventory increase, and demand is supported. Steel and ore are expected to fluctuate in the short term [19][20] Coking Coal and Coke - Coking coal futures prices rebound due to supply disturbances. In the short term, double - coking prices may fluctuate upwards, but the potential negative feedback from weak steel demand and the limited profit of the steel industry may restrict the upward space [22] Soda Ash and Glass - Soda ash prices fluctuate with the market atmosphere. Supply is at a high level, and new capacity progress is awaited. It is advisable to wait and see. Glass prices are recommended to be held by bulls, and attention should be paid to the implementation of cold - repair [23] Non - ferrous Metals and New Materials Zinc - As of January 12, domestic zinc inventories decrease. Zinc prices are supported by external markets and inventory trends. However, downstream procurement is weak. It is recommended to wait and see, and aggressive investors can short at high prices [25][26] Lead - As of January 12, lead inventories increase. Before delivery, inventories are expected to rise further. After delivery, supply pressure will increase, and price upward space may be limited. It is recommended to wait and see [27][28] Lithium Carbonate - Driven by the expectation of battery export rush, demand is better than expected. In the short term, it will operate in a high - level shock. Attention should be paid to the risk of sharp fluctuations [29] Industrial Silicon and Polysilicon - Industrial silicon is expected to fluctuate, lacking upward drivers. Polysilicon will fluctuate weakly, waiting for the rectification measures on January 20. For industrial silicon, downstream demand has short - term support, but long - term supply pressure remains. For polysilicon, the "anti - involution" policy is being corrected, and the market is in a vacuum period of policy and industry game [30][31] Agricultural Products Cotton - Cotton is in a short - term consolidation state due to the contradiction between short - term supply surplus and long - term supply contraction expectations, as well as pre - holiday restocking and declining production. Short - term trading is recommended [32][33] Sugar - Domestic sugar is in a season of both supply and demand growth, with prices fluctuating. It is recommended to conduct short - term trading in the low - price range [34][35] Eggs - The current inventory of laying hens is high. After the Spring Festival, egg prices may weaken. However, if the price increase is due to supply reduction, the situation needs to be re - evaluated [37] Apples - The apple market is in a game between supply support and demand restraint. Prices are likely to fluctuate within a range, and high - quality products will remain firm. The market may turn stronger during the Spring Festival [38][39] Corn - The corn market has large differences. Spot prices are stable to strong, and futures prices are weak. The price may fluctuate within a range, and attention should be paid to the release of grain sales in March [40] Red Dates - The red date market is in a consumption peak season, but the price lacks upward momentum. It is expected to fluctuate in the short term, and attention should be paid to the sales rhythm and buyer sentiment [41] Pigs - In the first half of January, pig consumption lacks a significant boost. From the middle of the month, the supply may increase, and the spot price is likely to decline. Futures contracts should be shorted at high prices [42] Energy Chemicals Crude Oil - Tensions in Iran continue to heat up, and the market is worried about supply disruptions. Although there is a supply surplus, geopolitical factors support oil prices in the short term [44] Fuel Oil - Fuel oil prices follow crude oil prices, with marginal improvement in supply and demand. The short - term focus is on the geopolitical situation in the US and Russia [46] Plastics - Polyolefins have large supply pressure and weak demand, but upstream losses may support a small - scale rebound. An oscillatory approach is recommended [47] Rubber - Rubber prices are expected to fluctuate. There is support from overseas raw material prices, and attention should be paid to short - term buying opportunities on dips [47] Synthetic Rubber - Synthetic rubber prices rise due to cost support. Caution is needed when chasing high prices, and it is advisable to wait and see if there is no position [48][49] Methanol - The supply - demand situation of methanol is improving. Although there is a risk of inventory accumulation, the long - term outlook is positive. Long - term contracts can be considered for a slightly long - biased allocation [50] Caustic Soda - The adjustment of export tax - refund policy has a negative impact on caustic soda futures. Spot prices are weak, and futures prices are under pressure [51] Asphalt - Asphalt prices are expected to fluctuate more due to raw material factors. The future focus is on the price bottom after the winter - storage game [52] Polyester Industry Chain - The polyester industry chain is cost - driven in the short term. Attention can be paid to the positive spread opportunities between May and September contracts of PX and PTA [53] Liquefied Petroleum Gas (LPG) - Affected by the geopolitical conflict in Iran, LPG prices rise. Supported by high costs and demand, it has some rebound momentum. It is recommended to wait and see [54] Urea - Urea futures drive the spot market. Spot prices are stable to rising, and futures prices are rising unilaterally. Attention is paid to the improvement of spot market liquidity [55]

Core Viewpoint - The meeting held by three government departments aims to regulate the competitive order in the electric vehicle (EV) industry, emphasizing innovation, quality, and the rejection of chaotic price wars [1] Group 1: Regulatory Actions - The three departments will enhance collaboration, strengthen cost investigations, and monitor prices in the EV sector [1] - There will be increased regulatory and enforcement efforts to ensure compliance among companies [1] - Companies that violate regulations will face serious legal consequences to maintain a fair market environment [1] Group 2: Industry Development Goals - The focus is on promoting high-quality development within the automotive industry [1] - The meeting underscores the importance of establishing a market order characterized by quality and fair competition [1]

Core Viewpoint - The meeting held by three departments aims to regulate the competitive order in the electric vehicle industry, emphasizing innovation, quality, and the rejection of chaotic price wars [1][2]. Group 1: Meeting Overview - The meeting was attended by representatives from the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State Administration for Market Regulation, along with key automotive enterprises [2]. - The focus is on implementing the decisions of the Central Committee and the State Council, promoting a fair and competitive market environment [2]. Group 2: Regulatory Measures - The three departments will enhance collaboration, strengthen cost investigations, and increase price monitoring [2]. - There will be a significant increase in regulatory and enforcement efforts, including strict supervision of product production consistency [2]. - Violating companies will face serious legal consequences to maintain a fair and orderly market environment [2].

Core Viewpoint - The article discusses the implementation of a three-month special rectification action by six government departments in China to address online chaos in the automotive industry, focusing on illegal profit-making, exaggerated and false advertising, and malicious attacks against companies [1][2][3]. Group 1: Illegal Profit-Making Issues - The action targets illegal profit-making through the creation of false images and videos, fabricating stories, and spreading negative topics about automotive companies to gain online traffic and commercial benefits [1]. - It also addresses the misuse of influence under the guise of "news supervision" to extort automotive companies for "protection fees" and the dissemination of false information during critical business events [1]. - The use of advanced technologies like generative AI to create "internet water armies" that produce false content and evade platform monitoring is also a focus [1]. Group 2: Exaggerated and False Advertising Issues - The rectification action aims to combat misleading advertising regarding the performance, functionality, quality, and sales status of vehicles and batteries [2]. - It addresses the manipulation of evaluation accounts to produce false or non-standard assessments, including the fabrication of sales data and selective disclosure of sales figures [2]. - The article highlights the role of industry events and online marketing in creating and sensationalizing topics that negatively impact the industry and society [2]. Group 3: Malicious Attacks Issues - The action seeks to eliminate malicious attacks aimed at discrediting competitors and damaging the reputation of automotive companies and their products [3]. - It addresses the organization of online "water armies" and "black public relations" to spread false negative information and incite public sentiment against competitors [2]. - The involvement of automotive executives in online disputes to undermine competitors is also a concern [2]. Group 4: Implementation and Coordination - The notification emphasizes the need for self-inspection by automotive companies and the establishment of reporting channels to address online chaos [3]. - It calls for collaboration among various government departments to strengthen the handling of online issues and to expose accounts involved in the chaos [3]. - The article stresses the importance of industry self-regulation and the need for automotive companies to resist online chaos [3].

Group 1: Report Overview - The report is a daily report on the coking coal and coke industries dated July 22, 2025 [1] Group 2: Investment Rating - No investment rating is provided in the report Group 3: Core Views - On July 22, the coking coal 2509 contract closed at 1048.5, up 7.98%. With strong macro - expectations, the mine - end inventory is generally decreasing, market confidence is improving, and the clean coal inventory is shifting downstream. Technically, it should be treated with a bullish bias in a volatile manner [2] - On July 22, the coke 2509 contract closed at 1697.5, up 7.98%. Coke enterprises initiated a second price increase. The raw material supply is gradually improving, and the pig iron production is at a high level. Technically, it should also be treated with a bullish bias in a volatile manner [2] Group 4: Summary by Directory 1. Futures Market - JM主力合约收盘价 rose to 1048.50 yuan/ton, up 42.50 yuan; J主力合约收盘价 rose to 1697.50 yuan/ton, up 94.50 yuan [2] - JM期货合约持仓量 decreased to 773525.00 hands, down 39102.00 hands; J期货合约持仓量 decreased to 54322.00 hands, down 1546.00 hands [2] - The net position of the top 20 coking coal contracts increased to - 66451.00 hands, up 17259.00 hands; the net position of the top 20 coke contracts decreased to - 4374.00 hands, down 545.00 hands [2] - The JM1 - 9 month contract spread rose to 88.50 yuan/ton, up 38.50 yuan; the J1 - 9 month contract spread rose to 54.50 yuan/ton, up 3.50 yuan [2] - The coking coal warehouse receipts remained at 0.00, and the coke warehouse receipts were 760.00 [2] 2. Spot Market - The price of Ganqimao Meng 5 raw coal rose to 850.00 yuan/ton, up 54.00 yuan; the price of Russian main coking coal forward spot remained at 120.00 dollars/wet ton [2] - The price of Jingtang Port Australian imported main coking coal rose to 1420.00 yuan/ton, up 40.00 yuan; the price of Jingtang Port Shanxi - produced main coking coal remained at 1440.00 yuan/ton [2] - The price of Shanxi Jinzhong Lingshi medium - sulfur main coking coal remained at 1100.00 yuan/ton; the price of Inner Mongolia Wuhai - produced coking coal ex - factory price remained at 980.00 yuan/ton [2] - The price of Tangshan quasi - first - class metallurgical coke remained at 1445.00 yuan/ton; the price of Rizhao Port quasi - first - class metallurgical coke remained at 1270.00 yuan/ton [2] - The price of Tianjin Port first - class metallurgical coke remained at 1370.00 yuan/ton; the price of Tianjin Port quasi - first - class metallurgical coke remained at 1270.00 yuan/ton [2] - The JM主力合约基差 decreased to 51.50 yuan/ton, down 42.50 yuan; the J主力合约基差 decreased to - 252.50 yuan/ton, down 94.50 yuan [2] 3. Upstream Situation - The raw coal inventory of 110 coal washing plants decreased to 298.69 million tons, down 2.08 million tons; the clean coal inventory decreased to 191.54 million tons, down 5.53 million tons [2] - The operating rate of 110 coal washing plants increased to 62.85%, up 0.52 percentage points; the raw coal production increased to 42107.40 million tons, up 1779.00 million tons [2] - The import volume of coal and lignite decreased to 3304.00 million tons, down 300.00 million tons; the daily average raw coal output of 523 coking coal mines increased to 192.90 thousand tons, up 1.10 thousand tons [2] - The inventory of imported coking coal at 16 ports decreased to 553.50 million tons, down 0.29 million tons; the inventory of coke at 18 ports decreased to 252.71 million tons, down 2.97 million tons [2] 4. Industry Situation - The total inventory of coking coal of independent coking enterprises increased to 929.11 million tons, up 36.76 million tons; the total inventory of coke of independent coking enterprises decreased to 87.55 million tons, down 5.53 million tons [2] - The coking coal inventory of 247 steel mills nationwide increased to 791.10 million tons, up 8.17 million tons; the coke inventory of 247 sample steel mills nationwide increased to 638.99 million tons, up 1.19 million tons [2] - The available days of coking coal for independent coking enterprises increased to 12.63 days, up 0.15 days; the available days of coke for 247 sample steel mills decreased to 11.46 days, down 0.18 days [2] - The import volume of coking coal increased to 910.84 million tons, up 172.10 million tons; the export volume of coke and semi - coke decreased to 51.00 million tons, down 17.00 million tons [2] - The coking coal production decreased to 0.00 million tons, down 4070.27 million tons; the independent coking enterprise capacity utilization rate decreased to 72.87%, down 0.30 percentage points [2] - The independent coking plant's profit per ton of coke increased to - 43.00 yuan/ton, up 20.00 yuan/ton; the coke production decreased to 4170.30 million tons, down 67.30 million tons [2] 5. Downstream Situation - The blast furnace operating rate of 247 steel mills nationwide increased to 83.48%, up 0.35 percentage points; the blast furnace iron - making capacity utilization rate of 247 steel mills increased to 90.92%, up 1.05 percentage points [2] - The crude steel production decreased to 8318.40 million tons, down 336.10 million tons [2] 6. Industry News - At the 10th Shaanxi - Shanxi - Sichuan - Gansu Steel Enterprises Summit Forum from July 19th to 20th, steel enterprises agreed to strengthen self - discipline in production control [2] - China's LPR in July remained unchanged for the second consecutive month, and market institutions expect a further decline in the second half of the year [2] - Premier Li Qiang signed the "Housing Rental Regulations", which will come into effect on September 15th, aiming to increase rental housing supply [2] - Guangdong and Anhui will standardize the competition order of the new energy vehicle industry [2]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report - The fundamentals of lithium carbonate may be in a state where industry expectations have improved, but the actual situation remains weak. Industrial inventories are accumulating, and more effective demand is needed to drive inventory reduction. The trading suggestion is to conduct light - position, range - bound, and slightly bullish trading while controlling risks [2]. 3. Summary by Related Catalogs 3.1 Market Data - **Futures Market**: The closing price of the main contract was 71,280 yuan/ton, up 1,320 yuan; the net position of the top 20 was - 146,856 lots, down 4,392 lots; the position of the main contract was 381,185 lots, up 3,880 lots; the spread between near and far - month contracts was 1,260 yuan/ton; the Guangzhou Futures Exchange warehouse receipts were 10,239 lots [2]. - **Spot Market**: The average price of battery - grade lithium carbonate was 68,000 yuan/ton, up 1,350 yuan; the average price of industrial - grade lithium carbonate was 66,350 yuan/ton, up 1,300 yuan; the basis of the Li₂CO₃ main contract was - 3,280 yuan/ton, up 30 yuan [2]. - **Upstream Situation**: The average price of spodumene concentrate (6% CIF China) was 708 US dollars/ton, up 10 US dollars; the average price of amblygonite was 6,075 yuan/ton, up 250 yuan; the price of lithium mica (2 - 2.5%) was 1,827 yuan/ton, up 46 yuan [2]. - **Industry Situation**: The monthly output of lithium carbonate was 44,100 tons, up 2,000 tons; the monthly import volume was 21,145.78 tons, down 7,190.11 tons; the monthly export volume was 286.74 tons, down 447.55 tons; the monthly output of power batteries was 129,200 MWh, up 5,700 MWh; the monthly operating rate of lithium carbonate enterprises was 52%, up 5 percentage points; the price of lithium manganate was 28,500 yuan/ton, unchanged; the price of lithium hexafluorophosphate was 49,300 yuan/ton, unchanged; the price of lithium cobaltate was 220,000 yuan/ton, unchanged; the price of ternary material (811 type) was 144,000 yuan/ton, down 500 yuan; the price of ternary material (622 power type) was 119,000 yuan/ton, down 1,000 yuan [2]. - **Downstream and Application**: The price of ternary material (523 single - crystal type) was 124,000 yuan/ton, down 1,000 yuan; the monthly operating rate of ternary cathode materials was 51%, down 4 percentage points; the price of lithium iron phosphate was 30,500 yuan/ton, unchanged; the monthly operating rate of lithium iron phosphate cathodes was 52%, up 3 percentage points; the monthly output of new energy vehicles was 1,268,000 units, down 2,000 units; the monthly sales volume was 1,329,000 units, up 22,000 units; the cumulative sales penetration rate of new energy vehicles was 44.32%, up 0.33 percentage points; the cumulative sales volume was 6,937,000 units, up 1,993,000 units; the monthly export volume of new energy vehicles was 205,000 units, down 7,000 units; the cumulative export volume was 1.06 million units, up 455,000 units [2]. - **Option Situation**: The total subscription position was 183,514 lots, down 258 lots; the total put position was 83,530 lots, up 11,051 lots; the put - call ratio of total positions was 45.52%, up 6.0773 percentage points; the implied volatility of at - the - money IV was 0.31%, up 0.0287 percentage points [2]. 3.2 Industry News - The Ministry of Industry and Information Technology will release a new round of steady - growth work plans for ten key industries such as steel, non - ferrous metals, petrochemicals, and building materials, as well as work plans for industries such as machinery, automobiles, and power equipment, and a digital transformation implementation plan for the automotive industry [2]. - The Ministry of Industry and Information Technology and two other departments jointly held a symposium on the new energy vehicle industry to deploy work on further standardizing the competition order of the new energy vehicle industry [2]. - The Fourth Central Steering Group conducted a special research symposium on comprehensively rectifying the irrational competition problem in the new energy vehicle industry, requiring leading enterprises to compete legally, rationally, and jointly resist irrational competition in the industry to maintain a fair and just market competition order [2]. 3.3 Market Analysis - **Price and Supply - Demand**: The main contract of lithium carbonate fluctuated upwards, with an increase of 2.53% at the close. The position increased month - on - month, the spot was at a discount, and the basis strengthened. On the supply side, due to the rectification of the upstream mining end, the supply of lithium carbonate may decrease. On the demand side, although the overall expectation of lithium carbonate has improved and the lithium price is running strongly, the downstream still mainly focuses on rigid demand consumption, and most enterprises have a low acceptance of high - priced lithium, resulting in a relatively light trading volume in the spot market [2]. - **Technical Analysis**: On the technical side, the 60 - minute MACD showed that the double lines were above the 0 axis, and the red bars slightly converged [2].

Core Viewpoint - The article discusses the recent measures taken by the Chinese government to regulate the competitive order in the electric vehicle (EV) industry, emphasizing the need for sustainable development and addressing irrational competition practices [2][3][4]. Group 1: Government Actions and Regulations - A meeting was held on July 18, 2025, by the Ministry of Industry and Information Technology (MIIT), National Development and Reform Commission (NDRC), and State Administration for Market Regulation to discuss the regulation of the EV industry [2]. - The government emphasized the importance of aligning industry actions with national policies to promote healthy and sustainable development in the EV sector [2]. - Key measures include strengthening supervision and inspection, establishing long-term mechanisms, and enhancing standard leadership to improve product quality and safety [2][3]. Group 2: Industry Challenges and Competition - The article highlights the prevalent "involution" competition and price wars within the automotive industry, which have raised concerns about market order [4]. - A commitment was made by 17 major automotive companies to limit payment terms to suppliers to no more than 60 days, reflecting an effort to stabilize supplier relationships [4]. - Experts indicate that the current irrational competition is undermining the profitability of EV companies, leading to a situation where many are operating at a loss and unable to invest in innovation [4].