China plans to boost domestic manufacturing by giving locally made products a price advantage in government procurement processes. According to a draft rule by the Ministry of Finance, products made in China will be considered at prices 20% lower than their actual sales figures compared to foreign-made goods. This policy is likely a strategic response to potential tariff hikes by the U.S., aimed at supporting domestic manufacturers. The draft is currently open for public feedback, but such rules are typically implemented after completing formalities. This move underscores China's focus on strengthening its domestic industries amid international trade tensions. Continue here.
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