破除"内卷式"竞争 迈向高质量发展（人民眼·建设全国统一大市场） 前一段时间，各大电商平台宣布对"仅退款"机制调整优化，未来平台不再主动介入消费者收货后"退款 不退货"申请。 反"内卷"，平台不能当旁观者。快手电商中小商家业务负责人覃天表示，平台要兼顾商家和消费者权益 保护，营造良好消费生态。 "再不能卷价格了！"浙江台州一家眼镜生产企业负责人李岳生深有感触，"过去，台州太阳镜'论斤卖'， 现在靠创新撕掉低端、廉价标签。" "原先，招商拼优惠政策，引发一系列问题；如今，拼营商环境，拼干部作风！"河南焦作市商务局局长 任立宏感慨。 ——纵深推进全国统一大市场建设观察之三 本报记者 方 敏 李建广 窦瀚洋 引 子 2024年12月举行的中央经济工作会议提出，综合整治"内卷式"竞争，规范地方政府和企业行为。今年7 月召开的中央财经委员会第六次会议强调，"纵深推进全国统一大市场建设，要聚焦重点难点，依法依 规治理企业低价无序竞争，引导企业提升产品品质，推动落后产能有序退出""规范地方招商引资"。 近日，记者走进北京市、浙江台州市、河南焦作市，透过一个行业、一个产业、一个地方的发展之变， 探寻如何在破除"内卷式"竞争中 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the photovoltaic ETF (159857), which saw a 5.19% increase and significant trading volume, indicating robust investor interest in the sector [3] - The underlying index, the CSI Photovoltaic Industry Index (931151), also experienced a strong rise of 5.08%, with notable gains from constituent stocks such as Daqo New Energy (688303) up 15.30%, Sungrow Power Supply (300274) up 10.49%, and Tongwei Co., Ltd. (600438) up 10.00% [3] - Over the past week, the photovoltaic ETF has seen a substantial increase in scale by 64.87 million yuan and a growth of 19 million shares over the past two weeks, leading the market in similar products [3] Group 2 - The Ministry of Industry and Information Technology of China held a meeting on July 3, focusing on accelerating the high-quality development of the photovoltaic industry, emphasizing the need to eliminate low-price competition and enhance product quality [4] - The government aims to guide healthy competition and support the exit of outdated production capacity, positioning China as a global leader in photovoltaic technology and a key player in the low-carbon energy transition [4] - The CSI Photovoltaic Industry Index is currently valued at a historical low with a price-to-book ratio (PB) of 1.78, which is below 82.54% of the time over the past three years, indicating a favorable valuation for investors [4] Group 3 - The photovoltaic ETF closely tracks the CSI Photovoltaic Industry Index, which includes up to 50 representative companies involved in the photovoltaic industry chain, reflecting the overall performance of listed companies in this sector [5]

Group 1 - The Ministry of Industry and Information Technology held a meeting focusing on accelerating the high-quality development of the photovoltaic industry, with participation from 14 major companies and industry associations [1][2] - Key representatives included leaders from major companies such as Tongwei Group, GCL-Poly, and LONGi Green Energy, highlighting the importance of collaboration within the industry [1] - The meeting emphasized the achievements of the photovoltaic industry in China, noting its transformation from weak to strong, and its leading position in terms of scale, technology, and market application [1][2] Group 2 - The Minister stressed the need for a comprehensive understanding of the photovoltaic industry's development situation and the importance of maintaining confidence while addressing challenges [2] - There is a focus on eliminating low-price disorderly competition and promoting product quality, with an aim to achieve sustainable development in the industry [2][4] - The industry is facing complex challenges, including strong demand but pressured supply, declining prices, and the need to overcome "involution" competition to maintain a healthy development environment [3][4] Group 3 - Recent discussions have highlighted the need to break the cycle of "involution" competition, which has led to price wars and market distortion, negatively impacting high-quality development [4] - The Central Financial Committee's recent meeting addressed the need for regulatory measures to guide enterprises towards improving product quality and phasing out outdated production capacity [4]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the need to break the "involutionary" competition in the agricultural sector, suggesting that high-quality, low-cost leading companies may benefit from this shift [3] - The report highlights the importance of technological innovation and the integration of agricultural resources to create a sustainable ecosystem that empowers farmers and drives continuous innovation [6][7] - The report anticipates that the pig farming market, valued at trillions, will see opportunities for technology-driven enterprises that can navigate the challenges of the industry [6] Summary by Sections Production Capacity - As of May, the national breeding sow inventory was 40.42 million heads, a year-on-year increase of 1.15% and a month-on-month increase of 0.1% [5] - The Ministry of Agriculture and Rural Affairs is focusing on stabilizing pig prices and controlling production capacity among leading enterprises [5] Market Performance - The price of live pigs reached a new high of 15.08 yuan/kg on July 1, attributed to a reduction in supply and the release of previous weight reduction pressures [7] - The white-feathered chicken market is experiencing a contradiction of "high capacity, weak consumption," but overall industry growth is expected to continue [8] Investment Recommendations - The report suggests that leading companies in the seed industry, particularly those with advanced research capabilities, are likely to see sustained performance growth [11] - The pet economy is highlighted as having strong consumer resilience and significant growth potential, with a favorable market structure [10] Industry Trends - The report notes that the agricultural industry is moving towards a model that emphasizes biotechnology, smart equipment, and low-carbon agriculture as key areas for future development [7] - The feed industry is characterized as a service-oriented sector with opportunities and risks, requiring companies to balance scale and flexibility [9]

Group 1: National Unified Market Construction - The Central Economic Committee emphasizes the importance of establishing a national unified market to eliminate "involution" competition and promote the integration of domestic and foreign trade [1][3] - Key requirements include unified market infrastructure, government behavior standards, and regulatory enforcement, along with continuous expansion of internal and external openness [3][4] - Six major work guidelines focus on addressing low-price disorderly competition, enhancing product quality, and facilitating the orderly exit of backward production capacity [3][4][5] Group 2: Industry Capacity Adjustment - The push for the exit of backward and inefficient production capacity will encompass a broader range of industries, including both traditional and emerging sectors such as lithium batteries, photovoltaics, and new energy vehicles [1][5] - The strategy for capacity reduction will involve optimizing industrial layout, strengthening standard guidance, and promoting restructuring [5][6] - Historical data shows that after the supply-side structural reform initiated in 2015, profit margins in the steel and coal industries significantly improved, indicating potential benefits from similar future reforms [5] Group 3: Integration of Domestic and Foreign Trade - The meeting highlights the importance of integrating domestic and foreign trade, viewing it as a key opportunity for foreign trade enterprises to establish a presence in the domestic market and cultivate independent brands [6][7] - The establishment of a unified market system will provide institutional support for this integration, enhancing competitiveness and aligning domestic rules with international standards [6] Group 4: Marine Economy Development - The meeting outlines a focus on high-quality development of the marine economy, emphasizing innovation, efficient collaboration, and industry updates [8][9] - Key industries identified for growth include offshore wind power, modern deep-sea fishing, marine biomedicine, and marine tourism [9] - The marine economy is projected to exceed 10 trillion yuan in total output by 2024, reflecting a 5.9% year-on-year growth, presenting significant market opportunities [9]

Group 1 - The central theme of the article revolves around the insights from a high-level meeting and the market sentiment in July, particularly in the technology sector [1][3]. - The sixth meeting of the Central Financial Committee focused on advancing the construction of a unified national market, emphasizing the need to address challenges such as low-price disorderly competition and to guide companies towards improving product quality [3][4]. - The policy direction for the second half of the year is expected to focus on reducing overcapacity and eliminating vicious competition, which has been highlighted in recent discussions and articles [3][4]. Group 2 - Specific industries that may benefit from the policy shift towards reducing internal competition and overcapacity include the new energy sector, automotive industry, traditional energy sectors like coal, and traditional manufacturing industries such as steel [4]. - The anticipated policy changes could lead to a reduction in supply while maintaining demand, potentially allowing prices to recover and improving financial performance for companies within these sectors [4].