On March 9, 2014, Li Yizhong, Standing Committee member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), deputy director of the Economic Committee, former Minister of Industry and Information Technology, and president of the China Federation of Industrial Economics, appeared on China Economic Net's "Face to Face with Economic Hotspots" special two sessions program to discuss topics such as "new approaches to resolving overcapacity" with netizens. Speaking about the role of the market in resolving overcapacity, Li Yizhong said the issue should return to the statement made at the Third Plenary Session of the 18th CPC Central Committee — that the market plays a decisive role in allocating resources, while the government should better play its role. Resolving overcapacity should rely on the market to solve itself, but if the government does nothing, it may take us longer and cost us more.

 

　　Li Yizhong took the television market as an example: "When color TVs first emerged, the market surged, and there were many television manufacturers across the country. Through competition and the market's survival of the fittest, a few large enterprises ultimately captured the market. But during the competition we did not pay enough attention to technological development; internationally, LCD and plasma displays had already advanced rapidly, causing the market to be captured by foreign companies. It was not until we woke up and began to focus on technological progress and innovation, with the government organizing efforts to tackle plasma and LCD display technologies, that we regained this market."