Great Wall, Xiaomi Auto Back New Rules to Promote Price Compliance in Auto Industry

On February 13, Great Wall Motor and Xiaomi Auto both issued statements expressing clear support for the "Compliance Guidelines for Pricing Practices in the Automotive Industry," released by the State Administration for Market Regulation on February 12. Great Wall Motor stated that it firmly opposes unscrupulous price wars, price fraud, and other improper practices, and will adhere to legal compliance and honest business conduct throughout its vehicle and component manufacturing, pricing, and sales processes. Xiaomi Auto pledged to strictly implement clear and transparent pricing, eliminate price fraud and unfair competition, and encourage its supply chain partners to jointly comply with the requirements of the Guidelines. The Guidelines aim to address "cutthroat" competition, standardize pricing practices in the automotive market, foster a healthy competitive environment based on quality and fair pricing, and support the high-quality development of China's automotive industry.