Two Departments Summon Automakers to Curb Irrational Competition; Beijing Calls in 5 E-commerce Platforms

Relevant authorities have issued reminders through meetings with automobile manufacturers suspected of engaging in irrational competition. The Beijing Municipal Market Supervision Administration also held talks with five e-commerce platforms. In the stock market, on June 11, major A-share indices closed lower: the Shanghai Composite Index fell 0.16% to close at 3,987.01; the Shenzhen Component Index dropped 0.68% to end at 14,851.98; and the ChiNext Price Index declined 1.13% to finish at 3,811.25. On the same day, the three major U.S. stock indices rose significantly: the Dow Jones Industrial Average gained 929.97 points, or 1.86%, closing at 50,848.75; the S&P 500 increased by 127.31 points, or 1.75%, ending at 7,394.30; and the Nasdaq Composite surged 640.16 points, or 2.54%, closing at 25,809.66.