China's Xi calls for 'orderly exit' of outdated capacity, Xinhua says

Chinese President Xi Jinping called for the "orderly exit" of outdated production capacity and curbing "disorderly" price competitions, state-run news agency Xinhua reported on Monday, citing an article written by Xi.

In the article, Xi urges the government to rectify wrongdoing in procurement and bidding processes and address the "chaotic" practices of local authorities in attracting businesses and investments, according to Xinhua.