A sharp decline in reported investment in China suggests President Xi Jinping’s campaign against excessive industrial competition may be having an impact on the world’s second-largest economy.
The surprise fall in fixed-asset investment is only the second such contraction in decades and follows repeated warnings by Xi against price wars in sectors such as high-tech and green energy, a problem Beijing calls neijuan or “involution” and is widely associated with overcapacity.
“We must prevent a rush into a bubble economy,” Xi said in a collection of quotations on industrial development priorities published by Communist party magazine Qiushi this month.
您已阅读10%（655字），剩余90%（5805字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。