China's Platform Economy Should Shift From Price Competition to Quality and Innovation, People's Daily Says

According to People's Daily today, China's platform economy has achieved robust development in recent years, contributing to technological innovation, domestic demand, and employment stability. However, "involutional" competition characterized by platform merchants being forced to participate with thin or negative margins and deteriorating service quality has emerged. The outlet calls for guiding the platform economy to shift focus from competing on price to competing on quality and innovation as a necessary requirement for healthy development.
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