China's top economic policymakers have pledged to tighten regulation on aggressive price-cutting by domestic firms, as the country grapples with persistent deflationary pressures and slowing demand. At a meeting of the Central Financial and Economic Affairs Commission chaired by President Xi Jinping, officials warned that disorderly low-price competition must be curbed and called for a shift toward improving product quality and phasing out outdated production capacity, according to state news agency Xinhua. The move comes as overcapacity and price wars among manufacturers have triggered a cycle of falling prices, with analysts fearing long-term deflation could take hold.