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China Sets New Rules for Cost Accounting Across Key Industrial Products

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China issued new rules to stop disorderly low-price competition across key industrial products, Xinhua News Agency reported Thursday, citing the National Development and Reform and the State Administration for Market Regulation.

The new regulations clarify cost accounting rules to be based on an operator's individual cost for manufacturing a product, the report said.

For individual costs that could not be calculated, they should be based on industry averages, the report said.

Beijing's move comes as it seeks to regulate "involution-style" competition in industrial product managing fields, the report said.

What else is happening in Asia?

Asia

Hearts and Minds Investments Posts Lower August Net Tangible Asset

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ASX:HM1
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KLSE:CEB
Asia

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ASX:WEC