China’s top regulator of the manufacturing sector has vowed to phase out outdated capacity amid Beijing’s efforts to combat excessive competition, while promoting hi-tech consumer goods as part of a broader push to revive domestic demand.The Ministry of Industry and Information Technology (MIIT) said at a meeting of senior officials on Monday that it would “consolidate the results of a sweeping crackdown on ‘neijuan’ competition in the electric vehicle sector and tighten oversight of key...