Ministry of Finance: Promoting the resolution of abnormally low prices in government procurement.

In order to rectify the "internal competition" in government procurement and establish a market order of high quality, fair competition and reasonable prices, the Ministry of Finance has issued the "Notice on Promoting the Solution of Abnormally Low Prices in Government Procurement", which requires strengthening of government procurement demand management, strengthening of review of abnormally low government procurement prices, and strengthening of government procurement performance acceptance management. Procurement entities should, based on actual work needs, comprehensively consider the bid information of similar projects, as well as market supply and industrial development conditions, market prices of materials, labor, and other factors, industry cost standards, and other market research situations, form scientific, complete, and clear procurement demands, reasonably set the maximum price limit, and provide a basis for competitive bidding from suppliers.