Group 1 - The central political bureau meeting emphasized the need to regulate local investment attraction practices, addressing existing issues in the sector and promoting the construction of a unified national market [1] - Local governments have relied on improper incentives to attract investments, leading to unhealthy competition characterized by low land prices and excessive subsidies, which has resulted in resource wastage and homogeneity in industries [1] - The traditional model of "subsidy competition" is being challenged by the implementation of the "Fair Competition Review Regulations," prompting local governments to rethink their development strategies [1] Group 2 - A shift from "policy lowlands" to "reform highlands" is necessary, focusing on systematic reforms to reshape the core of investment attraction [2] - Local governments should abandon the mindset of indiscriminately pursuing popular industries and instead focus on their unique industrial foundations and resource endowments to find precise positioning in differentiated competition [2] - The importance of establishing a stable and fair market environment is highlighted, which encourages businesses to settle and operate confidently, moving away from subsidy dependency towards service-oriented competition [2]

Core Viewpoint - The article emphasizes the importance of standardization as a key driver for economic and social progress, highlighting the significant increase in the download of national standards due to proactive policies, enterprise engagement, and a mature market mechanism [1][2]. Policy Level Summary - The State Administration for Market Regulation has actively promoted the public availability of over 30,000 national standards that have not adopted international standards, resulting in over 10 million downloads in the first half of the year [2][3]. - The implementation of the "Standardization Law of the People's Republic of China" mandates that mandatory standard texts be made available for free to the public, which has facilitated the increase in downloads [2]. Enterprise Level Summary - The surge in downloads reflects the active response from enterprises, indicating that important standards positively impact their production and operational activities [3][4]. - In the first half of the year, 1,420 national standards had over 1,000 downloads, and 34 standards exceeded 10,000 downloads, demonstrating a significant increase in the adoption of important standards [3]. Market Level Summary - The high download volume indicates a growing market demand for standards, showcasing that enterprises are increasingly relying on standards to enhance product and service quality [4]. - The free availability of standards promotes a more orderly, transparent, and fair market competition environment, allowing all types of enterprises to access the latest industry norms and technical requirements equally [4].

中化新网讯 8月1日，在国家发改委召开的新闻发布会上，国家发改委体制改革综合司司长王任飞表 示，全国统一大市场建设取得积极成效。下一步，国家发改委将围绕"五统一、一开放"的基本要求，聚 焦重点难点集中攻关，以更加有力有效举措，落实好纵深推进全国统一大市场建设各项部署。 一是抓总体推进。研究制定纵深推进全国统一大市场建设行动方案，统筹协调各方面，压茬推进重点任 务落实。二是抓制度建设。重点是实现产权保护、市场准入、公平竞争、社会信用、质量标准等制度的 统一；进一步规范政府行为尺度，制定《妨碍统一市场和公平竞争行为防范事项清单》；推动健全有利 于市场统一的财税体制、统计核算制度和考核评价体系。三是抓重点领域。深化要素市场化配置改革， 完善全国统一电力市场体系，培育全国一体化数据市场，协同推进统一开放的交通运输市场建设。四是 抓问题整治。依法依规治理企业无序竞争，推进重点行业产能治理，规范招标投标，加强对中标结果的 公平性审查，规范地方招商引资行为，加强招商引资信息披露，扎实开展市场准入壁垒清理整治行动。 ...

Group 1 - The core viewpoint emphasizes the importance of creating a market-oriented, law-based, and international first-class business environment to support high-quality development [4] - The Guangzhou municipal government is actively implementing Xi Jinping's directives on optimizing the business environment, with a focus on enhancing collaboration among law enforcement agencies to protect the rights of enterprises and entrepreneurs [3][4] - The initiative includes the establishment of an international arbitration center to improve international business cooperation and enhance the credibility and influence of arbitration mechanisms [3][4] Group 2 - The government aims to promote comprehensive reforms in market-oriented resource allocation and expand the openness of the service sector, addressing barriers to fair competition and ensuring efficient circulation of factors such as data, technology, capital, and talent [4] - A focus on optimizing the industrial development ecosystem is highlighted, with plans to strengthen industrial planning, policy supply, project attraction, and resource allocation to foster innovation and productivity [4] - The initiative also includes the establishment of a service system for enterprises throughout their lifecycle, simplifying access to policies and reducing operational costs to stimulate business vitality and social creativity [4]

Report Industry Investment Rating No relevant content provided. Core Views of the Report - In the next month, with increasing constraints on steel supply and demand in the off - season, steel prices are expected to maintain a volatile and slightly stronger trend. The "anti - involution" policy has a mid - term impact on the supply - demand relationship, and the steel market is in a double - weak supply - demand pattern [4]. - In July, steel futures prices rose strongly driven by policies and then回调 at the end of the month. In August, the market focuses on the implementation of the "anti - involution" policy, pre - parade production restrictions, and the demand expectations for the peak seasons [9]. Summary According to the Directory 1. Market Review - In July, steel futures prices rose strongly due to policy drivers and then fell at the end of the month. The main contracts of rebar and hot - rolled coil futures rose by over 10%. Spot prices also increased. The "anti - involution" policy and coal mine over - production checks led to cost increases, pushing up prices. At the end of the month, the lack of incremental stimulus policies and lower - than - expected PMI caused market sentiment to cool down [9]. - In August, the market focuses on the implementation of the "anti - involution" policy, pre - parade production restrictions, and the demand expectations for the peak seasons [9]. 2. Steel Fundamental Analysis 2.1 Anti - Involution Policy Disturbance, Supply Expectation Enhancement - The "anti - involution" policy in July aimed to regulate market competition. In the short term, it caused price fluctuations in coking coal. In the long term, it may reshape the supply - demand structure and profit distribution in the black commodity market. The coal industry may see increased concentration and pricing power [15]. - In July, steel supply remained relatively high. Profit - driven production led to high iron - water output and increased short - process production. In August, pre - parade production restrictions are expected, but supply in the first and middle of the month remains elastic [16]. 2.2 Steel Inventory Accumulation Accelerated at the End of the Month - In July, steel inventory continued to decline overall but showed signs of marginal accumulation at the end of the month. The total inventory of five major steel products increased slightly, with social inventory rising and factory inventory falling. Due to production restrictions and policies in August, inventory pressure is generally not large [19]. 2.3 Demand in the Off - Season, Weak Real Estate and Slowing Infrastructure - In July, steel demand was weak in the off - season, but exports remained resilient. Construction steel demand was weak due to the real - estate slump, and infrastructure investment growth slowed. Plate demand also weakened marginally. The manufacturing PMI was in the contraction range, and the "trade - in" policy's effect on the manufacturing industry diminished [22]. 2.4 Increased Policy Impact - Multiple policies were introduced in July. The "anti - involution" policy affected the steel market. Real - estate investment continued to decline, while the Yarlung Zangbo River downstream hydropower project started, which may drive new infrastructure investment expectations [24][27][28]. 3. Market Outlook - Supply side: In July, steel supply remained high with significant differentiation among varieties. In August, pre - parade production restrictions are expected, but supply in the first and middle of the month remains elastic due to profit incentives [44][46]. - Demand side: In July, steel demand was weak in the off - season, but exports remained resilient. Construction steel and plate demand both declined. Manufacturing was under pressure, and overseas exports maintained a good growth rate [46]. - In the next month, with increasing supply constraints and demand in the off - season, steel prices are expected to maintain a volatile and slightly stronger trend due to policy impacts [47].

Core Viewpoint - The meetings held by Zhengzhou's leadership focus on integrating the city into the national unified market, emphasizing the importance of this initiative for resource optimization and economic growth [1][2]. Group 1: Strategic Importance - Integrating into the national unified market is identified as a strategic, comprehensive, and critical foundational task for Zhengzhou [2]. - This initiative is seen as essential for accelerating the efficient allocation of resources and leveraging the advantages of a large market scale [2]. Group 2: Goals and Actions - The city aims to enhance its awareness of the broader context, focusing on national and provincial priorities while seizing opportunities and fulfilling responsibilities [2][3]. - Key areas of focus include platform economy, headquarters economy, industrial chain economy, and digital economy, with an emphasis on attracting leading enterprises and developing international logistics hubs [3]. Group 3: Implementation and Leadership - There is a call for strong organizational leadership and policy research to ensure effective implementation of the integration strategy [3]. - The city is encouraged to innovate boldly, liberate thoughts, and actively engage in practical efforts to contribute to the modernization of the region [3].

Group 1 - The core viewpoint emphasizes the need for a unified national market to combat "involution" in various industries, which has led to unhealthy competition and profit sacrifices among companies [1][4][11] - The government is implementing a series of measures to address "involution" by promoting fair competition and optimizing resource allocation, which is crucial for the construction of a unified national market [2][5][10] - The recent policies focus on both constraints and guidance, including prohibiting local governments from offering unfair incentives and promoting mergers and technological innovation in key industries [5][6] Group 2 - The regulatory framework is evolving, with new laws such as the revised Anti-Unfair Competition Law aimed at preventing predatory pricing and ensuring fair competition among businesses [8][9] - The government is actively seeking to break down local protectionism and market barriers, which are significant obstacles to the establishment of a unified national market [10][11] - Initial results from the government's "combination punches" against "involution" have shown improvements in capacity management and pricing rationality in industries like steel, automotive, and e-commerce [11]

Core Viewpoint - The article discusses the ongoing "involution" competition across various industries in China, emphasizing the need for a unified national market and the government's efforts to regulate and guide this competition to ensure a healthy market environment [2][4][11]. Group 1: Involution Competition - The "involution" competition has escalated from e-commerce and automotive sectors to electronics, food, steel, and cement industries, leading to a detrimental cycle where companies sacrifice profits for market share [2][4]. - The Chinese government, through multiple departments, is actively implementing measures to address this "involution" competition, aiming to break the cycle and promote a healthier market order [2][5][11]. Group 2: Government Measures - The National Development and Reform Commission (NDRC) has introduced guidelines to prevent local governments from offering illegal incentives in areas such as finance, taxes, and resources, focusing on both constraints and guidance [5][6]. - The Ministry of Industry and Information Technology (MIIT) is targeting key industries like automotive and steel to encourage structural adjustments and the elimination of outdated capacities [6][11]. - The State Administration for Market Regulation (SAMR) is conducting targeted actions against unfair competition across a wide range of sectors, including e-commerce and food, to ensure fair market practices [6][9]. Group 3: Price Governance Framework - Recent reforms in the Anti-Unfair Competition Law aim to establish a fair competition review system, prohibiting practices that disrupt market order through below-cost pricing [8][9]. - The NDRC and SAMR are working on revising the pricing law to address predatory pricing and ensure that service pricing is also regulated, enhancing the legal framework for market supervision [9][10]. Group 4: Achievements and Future Directions - Initial results from the government's "combination punches" against "involution" competition show improvements in industries like steel and construction materials, with a gradual recovery in upstream supply chain prices [11]. - The article highlights the need for further reforms in performance evaluation and fiscal systems to eliminate local protectionism and market barriers, which are essential for the successful establishment of a unified national market [11].

Core Viewpoint - The ongoing "price war" across various industries in China, driven by intense competition, has led to a detrimental cycle where companies sacrifice profits to gain market share, prompting government intervention to establish a fair competitive environment and promote a unified national market [1][2]. Group 1: Government Actions - Multiple government departments, including the National Development and Reform Commission (NDRC), Ministry of Industry and Information Technology (MIIT), and State Administration for Market Regulation (SAMR), are implementing comprehensive measures to combat "involution" in competition [2][3]. - The NDRC has issued guidelines to prevent local governments from offering illegal incentives related to finance, taxes, land, and resources, while also promoting mergers and the elimination of inefficient production capacities in industries like refining and steel [3][4]. - The MIIT is focusing on key industries such as automotive and photovoltaic sectors, encouraging structural adjustments and the elimination of outdated capacities, with initiatives like a 60-day payment commitment from major automotive companies [3][4]. Group 2: Regulatory Framework - The recent revision of the Anti-Unfair Competition Law aims to establish a fair competition review system, prohibiting platform operators from forcing sellers to price below cost, thereby addressing the issue of "involution" [5][6]. - The NDRC and SAMR are seeking public input on amendments to the pricing law, which will further link the regulation of "involution" with price governance [5][6]. - Experts believe that the revised pricing law will work in conjunction with anti-monopoly and anti-unfair competition laws to create a more comprehensive market regulation system, fostering a fair competitive environment [6][7]. Group 3: Market Impact - Initial results from the government's "combination punches" against "involution" have shown positive effects, with improvements in capacity management and structural optimization in industries like steel and construction materials, leading to a gradual recovery in upstream prices [6][7]. - The pricing strategies in the automotive, e-commerce, and food delivery sectors are becoming more rational, with a noticeable decrease in chaotic promotional activities [6][7]. - The Central Economic Committee has reiterated the need for legal governance of low-price competition and the orderly exit of outdated capacities, indicating ongoing efforts to regulate the market [7].

人民财讯8月5日电，近日，市场监管总局发布消息，今年以来，市场监管总局积极响应社会需求，有序 推动3万余项未采用国际标准的国家标准全文公开且可免费下载，半年下载量超1000万次，为全国统一 大市场建设提供有力支撑。 ...