THE government plans to introduce fair competition reviews into its industrial policy process, Xinhua reported Saturday, quoting the State Administration for Industry and Commerce head Zhang Mao.

    The move will create a more open and transparent regulatory environment for the market, Zhang said, adding that the reform will help reduce intervention by the government that created “unfair competition.” China is trying to upgrade its industrial base and push its companies up the value chain. At present many Chinese firms suffer from narrow profit margins that are lower than their cost of capital, discouraging investment.(SD-Agencies)