China's premier urges tighter price oversight as deflation pressures squeeze economy

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Chinese Premier Li Qiang has called for tighter pricing regulation in the electric car sector during a high-level meeting Wednesday, as Beijing sought to rein in the cut-throat price wars that are fueling deflationary pressures in the economy.

In singling out the country's electric-vehicle sector, Li urged strengthened cost oversight and price monitoring. He also called on major automakers to make timely payments to suppliers while practicing greater self-discipline in setting prices.