cross-posted from: https://lemmy.sdf.org/post/49121271 > Archived > > Chinese regulators have threatened “severe penalties” for automakers that launched a new wave of price cuts, defying government efforts to limit excessive competition. > > The Ministry of Industry and Information Technology, along with the market regulator and the country’s top economic planner, convened a meeting with the heads of 17 carmakers earlier this week, during which the authorities said they would step up investigations into production costs and price monitoring. > > They warned of “severe penalties” against companies for violations, according to a statement by MIIT on Thursday. > > By mid-January, nearly all of China’s top 10 carmakers by 2025 sales had rolled out early-year promotions, intensifying discounts to shore up market share. > > […]