Industry ministry targets ‘excessive’ competition in 2026
Minister of Industry and Information Technology Li Lecheng said that the comprehensive rectification of “excessive” competition will be a priority for 2026, the opening year of China’s 15th Five-Year Plan. Speaking at a meeting on Dec. 7, Li called for further deepening reforms, upholding lawful governance, strengthening industry self-discipline and enforcing regulatory responsibilities to address difficulties facing businesses. He also stressed the need to balance development and security by mitigating risks, ensuring the safety of key industrial and supply chains, and bolstering capabilities in networks, data and artificial intelligence to gain strategic initiative.
EU reviews Volkswagen Anhui’s EV price undertaking
The European Commission has begun reviewing a price undertaking proposal submitted by Volkswagen (Anhui) Automotive Co. Ltd., a Chinese subsidiary of Volkswagen AG, aiming to replace current countervailing duties on its electric vehicle (EV) exports. The EU disclosed the review on Dec. 4. Since Oct. 30, 2024, the bloc has imposed five-year antisubsidy tariffs on China-made EVs. Tesla China faces the lowest additional rate of 7.8%, while SAIC Motor Corp. Ltd. is subject to the highest at 35.3%. Volkswagen Anhui currently faces a tariff of 20.7%.
Offshore projects contribute nearly 80% of China’s crude output growth
China’s annual offshore crude oil production has exceeded 68 million tons, accounting for approximately 80% of the country’s total incremental oil output, according to the China National Offshore Oil Corp. (CNOOC). In a Dec. 7 statement, the state-owned giant noted that a seven-year action plan to boost domestic reserves and production concluded two years ahead of schedule. During the 14th Five-Year Plan period, the sector saw successive discoveries of major oil and gas fields, with offshore natural gas output surpassing 30 billion cubic meters. CNOOC stated that the marine economy grew 5.9% in 2024, outpacing national GDP growth by 0.9 points.
Former railway administration chief expelled from party
Fei Dongbin, former head of the National Railway Administration, has been expelled from the Communist Party and removed from public office for serious violations, including associating with “political fraudsters” and trading power for money, the Central Commission for Discipline Inspection announced on Dec. 5. Investigators found that Fei allegedly accepted huge bribes in exchange for assisting others with business operations, project contracting and job promotions. His case has been transferred to prosecutors.
Five killed in railway underpass collapse in Henan
Five workers died after a slope collapsed during the construction of the Xiaohan Avenue railway underpass in Sanmenxia, Henan province, on Dec. 6. The contractor, CRSC (Zhengzhou), announced the incident on its website on Dec. 7 but deleted the notice later that evening. This follows a series of recent accidents within the railway system.
