sounds like some of these industries with razor thin margins may need nationalization

The automatic translation I read seems to emphasize a common Chinese market. Could this be the domestic consumer model that @[email protected] (and others) have been pushing for?

Xi to announce Burning Crusade Expansion

How do yo immigrate to China?

sustainable margins

not a word about wage floor

mate is libbing out

I'm not gonna pretend I get what's being said here, but I think the last year has shown that, for solar specifically, the "overproduction" is absolutely a good thing. Chinese solar overproduction has allowed African and Asian countries to massively increase their renewable energy and begin a fossil-free developmental path. If Chinese solar were not so cheap, it would be impossible for those countries to import so much so quickly.

Maybe China can get a bunch of solar plants set up in other countries so they can cheaply produce their own solar, but they'll need to move the entire supply chain for that to really work.

Following the references brings me here.

BEIJING -- An article by Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on further building a unified national market will be published on Tuesday.

The article by Xi, also Chinese president and chairman of the Central Military Commission, will be published in this year's 18th issue of the Qiushi Journal, a flagship magazine of the CPC Central Committee.

Building a unified national market is essential for creating a new development pattern and promoting high-quality development, according to the article. It notes that advancing the building of a unified national market requires the unification of underlying market institutions, market infrastructure, government conduct, regulatory enforcement, and markets of production factors and resources, as well as the continuous expansion of opening up.

To deepen the building of a unified national market, it is important to focus on key and difficult tasks, such as dealing with the problem of disorderly price competition among some enterprises, and standardizing government procurement and tendering procedures. It is also imperative to regulate local governments' practices to attract investment, promote the integrated development of domestic and foreign trade, and address shortcomings in legal and regulatory frameworks, according to the article.

Additionally, officials should be guided to have a correct understanding of what it means to perform well, says the article.

Describing the construction of a unified national market as a long and tough task, the article calls for strengthened coordination and cooperation nationwide in building synergy to advance the related work.

Hopefully the actual article gets published in English.

I’ll be honest, I read the article and I’m not sure if I’m stupid or if this has nothing to do with the communism button or even increasing domestic consumption while importing rather than exporting. Also it’s from July

“The "five unifications" refer to unifying fundamental market institutions, particularly those related to property rights protection, fair competition, and quality standards; unifying market infrastructure, streamlining logistics, capital flows, and information flows, and improving the modern commercial and trade distribution system; unifying the standards for government behavior, ensuring that local governments have clear rules for what they can and cannot do when promoting economic development, especially attracting investment, and that they cannot act independently; unifying market regulation and law enforcement, clarifying the criteria for administrative penalties for market regulation, and ensuring a uniform standard for all measures; and unifying the markets for factor resources, promoting their free flow and efficient allocation, and reducing resource mismatches and idle waste. The "one opening up" refers to continuously expanding opening up, implementing interconnected domestic and international opening up, and avoiding closed operations.”

Please let me know what phrases are important here

no more half measures walter

I'm gonna try to interpret what I think I understand from this. Please respond if you think I'm mistaken on something.

“Rectifying disorderly low-price competition among enterprises” is probably the most important one. It sounds like something of the order of “houses are for living, not for speculation”, the expression Xi used to announce the deflation of the real estate bubble.

It sounds like they plan to assert even more control over enterprises. Either getting more "golden shares" or making them more powerful or maybe even full on nationalizing a bunch of importent enterprises.

Xi is saying he wants an end to “involution” (“内卷”, Neijuan), a term he mentions several times in his text, and which is very trendy in China right now. Probably the best translation for it is not actually “involution” but more something akin to “rat race”, “race to the bottom” or “destructive, zero-sum competition”. It doesn’t only relate to businesses, but also to social issues in China like the extreme competition for education, the 996 culture, the feeling of running faster and faster just to stay in the same place.

This probably involve two things:

1 - getting enterprises to give worker more for the same work (so that it's not necessary for them to work so much overtime), aka probably higher salaries + more benefits.

2 - Taking even more advantage of China's automation capability. They've been working on various robots and AIs capable of automating work to an extent never seen before for a few years now, they're probably going to go all in on this, even more than before.

It’s true that when you look at the current extreme competition in business, it makes everyone worse off: for instance China leads the world in solar because of this competition but when you look at it individual companies’ margins are razor thin, making this quite the pyrrhic victory for individual Chinese companies.

The only way to deal with this problem while keeping prices low that I can think of is nationalization. So maybe that's what they'll do.

Same thing for education for instance, where you need ever-higher degrees for the same jobs. What once required a bachelor’s now needs a master’s; everyone studies harder but no one is better off.

On that point, they may want even more peoples going into engineering and science. Since getting enterprises to be less picky when hiring for engineering or r&d jobs would help with that. Significant given that China dominate in number of patents and cited scientific papers.

What Xi promotes instead is “high-quality development” which, when it comes to business, means innovation and differentiation rather than price wars, sustainable margins and market consolidation.

Innovation and differentiation rather than price war seems consistent with wanting more peoples going into engineering and r&d, wanting to push for more automation, nationalization and wanting workers to get more for the same positions.