As the period covered by China\u2019s next five-year plan begins, the official newspaper of the country\u2019s ruling Communist Party urged local governments to curb the herd behaviour that could fuel \u201cinvolution\u201d \u2013 the fierce competition that has driven down prices and undermined sustainable growth within several industries.<\/p>\n
\u201cChina has a vast territory, and the imbalances between regions and between urban and rural areas remain significant. There is no one-size-fits-all solution for high-quality development,\u201d the People\u2019s Daily said in an editorial on Wednesday.<\/p>\n
\u201cOtherwise, we would end up with identical cities and a cycle of \u2018involution\u2019 that leads nowhere.\u201d<\/p>\n
The editorial called for localities to leverage their comparative advantages and deepen their research into differentiated development paths tailored to their resources, geography and existing industries rather than blindly chasing trends.<\/p>\n
\u201c[Local authorities] must avoid jumping on policy bandwagons or obsessing over \u2018new and hi-tech\u2019 labels for their own sake. Such a rush, followed by abrupt abandonment later, creates a mess.\u201d<\/p>\n
The article was credited to \u201cZhong Caiping\u201d, a new pen name for the People\u2019s Daily, according to the newspaper\u2019s website. The pseudonym \u2013 one of several deployed in official media<\/a> to designate pieces of note \u2013 resembles a name widely viewed as representing the party\u2019s Central Financial and Economic Affairs Commission.A high-profile eight-part op-ed series<\/a> was published under that byline, \u201cZhong Caiwen\u201d, before the fourth plenum of the party\u2019s powerful Central Committee late last year.<\/p>\n","protected":false},"excerpt":{"rendered":"As the period covered by China\u2019s next five-year plan begins, the official newspaper of the country\u2019s ruling Communist…\n","protected":false},"author":2,"featured_media":272499,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[36843,1793,79,79411,69863,381,13947,5122,46953,179,18,20366,19,36842,17,46956,57329,2792,138602,138601],"class_list":{"0":"post-272498","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-anti-involution","9":"tag-beijing","10":"tag-business","11":"tag-central-committee","12":"tag-central-financial-and-economic-affairs-commission","13":"tag-china","14":"tag-communist-party","15":"tag-cpi","16":"tag-deflationary-pressure","17":"tag-economy","18":"tag-eire","19":"tag-goldman-sachs","20":"tag-ie","21":"tag-involution","22":"tag-ireland","23":"tag-peoples-daily","24":"tag-ppi","25":"tag-shanghai","26":"tag-zhong-caiping","27":"tag-zhong-caiwen"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115854822904961975","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/272498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=272498"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/272498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/272499"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=272498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=272498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=272498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}