Business丨Better policy seen as driving innovation

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More policies are expected to stimulate innovation among businesses, enabling them to cultivate unique competitive advantages in response to the intense price-focused competition prevalent in certain industries, said analysts.    They also anticipate the introduction of a broader range of fiscal tools to alleviate the financial burden on companies arising from their innovation spending.    The remarks came as a key priority for the upcoming year, highlighted at the recent tone-setting Central Economic Work Conference, is to construct a modern industrial system and address problems stemming from hypercompetition while regulating the actions of local governments and enterprises, marking the inaugural acknowledgment of growing hypercompetition at the conference.    Analysts said such competition often involves a one-sided pursuit of low prices in seeking a competitive edge over peers. Some companies, despite their limited capabilities, continuously vie for land and resources to bene ………………………………