中国今年第二季度的经济增长只有4.7%，不但低于预期，也是五个季度以来的最低水平。

为了稳住经济，中共政治局7月30日召开会议，部署下半年经济工作要求、提振内需、培育壮大新兴产业和未来产业。会议上还出现了一个罕见要求，就是“强化行业自律，防止‘内卷式’恶性竞争”。

中国的企业现在有多“卷”？

这期的早报播客《东谈西论》，听主持人韩咏红和辽宁大学特聘研究员陈波深入解析什么是“内卷式”恶性竞争？政治局一纸命令真的能有效防止“内卷”？

延伸阅读：

• 陈婧：政治局会议也谈“防内卷”
• 中国出台20条促消费 分析：电商、游戏、教培重获重视

China’s economic growth slowed to a mere 4.7% in the second quarter of 2024, falling short of projections and marking the weakest performance in five consecutive quarters. To stabilise the economy,  the Chinese Communist Party’s Politburo convened on July 30 to formulate economic strategies for the second half of the year. The meeting underscored the importance of stimulating domestic demand and nurturing the expansion of emerging and future industries.

Interestingly, the meeting  also issued an uncommon directive, urging for greater industry self-discipline to curb what is termed as “involution-style” vicious competition.   

"Involution," in this context, describes a pattern of excessive, often unproductive competition that traps businesses in a cycle of diminishing returns. This can manifest as a culture of extreme work with minimal gains in productivity and innovation.

How prevalent is this issue among Chinese enterprises, and can a top-down directive from the Politburo effectively mitigate this behaviour?  

In this episode of Global Heartbeat podcast, host Han Yong Hong is joined by Chen Bo, a prominent researcher and Adjunct Professor of Economics at Liaoning University to analyse the effectiveness of the Politburo’s directive. 

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.