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Shares of Alibaba and Meituan have surged by more than 6% and nearly 4%, respectively. According to Sheng Laiyun, Deputy Director of the National Bureau of Statistics, the Central Financial and Economic Commission convened a meeting to address the issue of "involution" in certain industries. The meeting proposed accelerating the development of a unified national market, aiming to curb chaotic low-price competition among enterprises, elevate product quality, and facilitate the elimination of outdated production capacity. These policy initiatives are designed to regulate market order, enhance supply-demand dynamics, boost corporate profitability, and foster high-quality economic growth. Industry experts opine that the sustainability of the platform enterprises' share price rebound hinges on the government's actions to curb low-price competition.
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