Core Points - The National Development and Reform Commission and the State Administration for Market Regulation have released a draft for the amendment of the Price Law, marking the first revision in 27 years [1] - The revision aims to regulate enterprise competition behavior, protect consumer rights, and optimize the business environment for high-quality economic development [2][3] Group 1: Objectives of the Revision - The revision has three main objectives: to standardize enterprise competition behavior, to protect consumer rights, and to enhance the business environment [2] - It aims to prevent the phenomenon of "bad money driving out good money" and to ensure fair competition among market participants [2][3] Group 2: Key Amendments - The draft includes ten main amendments across three areas: improving government pricing, clarifying standards for unfair pricing behavior, and establishing legal responsibilities for pricing violations [4] - Specific amendments include refining the standards for identifying predatory pricing, price collusion, price gouging, and price discrimination [4] Group 3: Role of Government - The government is expected to play a significant role in regulating both government-set prices and market-adjusted prices to address market failures [5] - The government will utilize legal powers to enforce market entry, administrative guidance, and penalties to combat unfair competition and protect consumer rights [5] Group 4: Economic Impact - The deepening of price reforms is anticipated to enhance economic efficiency and contribute to high-quality development [6]

Group 1 - The core viewpoint of the article is the revision of the Price Law in China, which aims to address new challenges in the market, such as "involution" competition and "algorithm pricing" [2][3] - The revision of the Price Law is the first in 27 years, initiated by the National Development and Reform Commission and the State Administration for Market Regulation, and it includes 10 articles focusing on government pricing, standards for unfair pricing behavior, and legal responsibilities for price violations [2][3] - The revision expands the definition of unfair pricing behaviors to include issues related to platform and digital economies, addressing concerns such as "predatory pricing" and "price discrimination" [3][4] Group 2 - The revision improves the standards for identifying predatory pricing, providing legal support for enhanced regulatory enforcement [3] - The draft addresses "big data price discrimination" by prohibiting price discrimination against consumers under the same transaction conditions [4] - The revision introduces measures to enhance transparency in pricing algorithms used by platforms, suggesting that platforms should disclose their pricing algorithms to regulatory bodies [4][5] Group 3 - The draft aims to clarify the relationship between the Price Law and the Anti-Monopoly Law, addressing overlapping issues that have persisted since the Anti-Monopoly Law's implementation in 2008 [6][8] - The penalties for violations of the Price Law have been increased, with the maximum fine raised from 5,000 yuan to 50,000 yuan, reflecting the need for stricter enforcement [6][7] - The revision emphasizes the necessity for violators to return illegal gains and suggests that restitution should be prioritized over administrative penalties [7] Group 4 - The revision also seeks to institutionalize government pricing hearings, allowing for broader public participation in the pricing process [9][10] - The draft modifies the requirements for government pricing hearings, allowing for various methods of public consultation, including surveys and public hearings [10][11] - The article highlights the importance of ensuring that public opinions are openly discussed and considered in the pricing decision-making process [11]

Group 1: Hainan Free Trade Port - Hainan Free Trade Port is set to officially start operations on December 18, 2025, establishing a customs supervision area with a policy of "one line open, one line controlled, and free flow within the island" [2][3] - The "zero tariff" system for imported goods has been established, allowing eligible enterprises registered in Hainan to import goods without tax under certain conditions [3] - The implementation of the zero tariff policy is expected to lower production costs for market entities and enhance the level of trade liberalization and facilitation in Hainan [3] Group 2: Pension Service Subsidies - The central government has initiated a nationwide pension service consumption subsidy for elderly individuals with moderate to severe disabilities, covering various types of care services [4][5] - Eligible elderly individuals can receive monthly subsidies of 800 yuan for institutional care and 500 yuan for home care services, with a discount of 30% to 60% on service costs [4][5] Group 3: Fiscal Revenue and Expenditure - In the first half of the year, national public budget revenue decreased by 0.3%, while public budget expenditure increased by 3.4%, indicating a more proactive fiscal policy [6][7] - Tax revenue fell by 1.2%, but the decline is narrowing, reflecting a stabilizing economy, with 27 provinces reporting revenue growth [7] Group 4: Price Law Revision - The first revision of the Price Law in 27 years aims to enhance government pricing regulations and address unfair pricing behaviors, including low-price dumping and price collusion [8][9] - The revised law will strengthen market regulation and support fair competition, particularly in the context of new economic models and the current international environment [9] Group 5: Commodity Market Trends - Recent trends in the commodity futures market show significant price increases, with major contracts for glass, soda ash, coking coal, and silicon reaching their daily price limits [10][11] - The price surge is driven by supply-side factors and expectations of increased demand due to fiscal policy initiatives and infrastructure projects [11] Group 6: US Trade Agreements - The US has reached trade agreements with Japan, the Philippines, and Indonesia, with Japan committing to invest $550 billion and open its markets to US goods [12] - The agreements may set a precedent for future trade negotiations, particularly with the EU, which is also in discussions with the US regarding tariff frameworks [12] Group 7: Federal Reserve and Monetary Policy - Tensions between President Trump and Federal Reserve Chairman Powell have escalated, with Trump criticizing Powell's monetary policy decisions [13] - The ongoing conflict raises concerns about the independence of the Federal Reserve and potential implications for inflation and long-term interest rates [13]

Core Points - The revised Price Law aims to strengthen legal support for regulating unfair pricing behaviors and enhancing market competition, particularly addressing issues related to "involution" [1][2][3] - The draft includes new provisions for digital economy regulation, targeting algorithm pricing and data discrimination, thus filling existing regulatory gaps [1][6] - The revision is a response to the changing economic landscape, where most prices are market-driven, and new business models have emerged, necessitating updated regulatory measures [3][4] Group 1: Legal Framework Enhancements - The draft introduces multiple provisions related to "anti-involution," improving regulations on unfair pricing behaviors such as predatory pricing, price collusion, and price discrimination [1][3] - It establishes clearer standards for identifying unfair pricing practices and enhances legal responsibilities for violations, thereby providing robust support for price regulation [3][5] - The revised law will work in conjunction with the Anti-Monopoly Law and the Anti-Unfair Competition Law to create a comprehensive market regulation system [7] Group 2: Addressing Low-Cost Dumping - The current Price Law's application to low-cost dumping is limited to goods sold by operators, which does not fully address the rise of platform economies and service consumption [4] - The draft revises the definition of low-cost dumping to include actions that aim to eliminate competitors or monopolize the market by selling below cost [4][5] - It also identifies specific practices in service sectors that constitute disguised price increases or reductions, responding to recent market trends [4][5] Group 3: Digital Economy Regulation - The draft explicitly prohibits operators from engaging in unfair pricing behaviors using data, algorithms, and technology [6] - It bans dominant operators from imposing unreasonable fees or conditions, addressing the misuse of data and algorithms in the digital economy [6] - The revised law aims to regulate new challenges posed by rapid advancements in technology, such as algorithm discrimination and data exploitation [6]

Core Viewpoint - The first revision of the Price Law of the People's Republic of China in 27 years aims to enhance government pricing mechanisms, clarify standards for unfair pricing behaviors, and improve legal responsibilities for price violations [1] Group 1: Government Pricing Mechanism - The revision shifts the focus of government pricing from setting specific price levels to establishing pricing mechanisms, allowing for a more flexible response to market supply and demand changes [2] - The new approach allows the government to determine pricing levels through established pricing methods and rules, enhancing the diversity of government pricing methods [2] Group 2: Scope of Low-Price Competition - The scope of low-price competition has been expanded from "goods" to include "services," addressing potential low-price dumping behaviors in the service sector [3][4] - The revised law strengthens the legal framework against low-price dumping by clarifying the conditions under which such behaviors are considered unfair competition [3] Group 3: Regulation of Unfair Pricing Behaviors - New provisions have been added to prohibit the use of algorithms and data to engage in unfair pricing practices, reflecting the changes in business models in the digital economy [5] - The revision includes specific clauses to regulate unreasonable fees and restrictions imposed on operators within a business environment [5]

Core Viewpoint - The revision of the Price Law is timely and aims to enhance the legal framework for price governance in response to evolving market conditions and regulatory practices [2][3][6] Group 1: Legislative Background - The Price Law, implemented in 1998, has provided essential legal support for the healthy development of the economy and society, necessitating updates to address new challenges and improve governance tools [2][3] - The revision aims to align with the construction of a high-level socialist market economy and improve the macroeconomic governance system [2] Group 2: Government Pricing System - The revision maintains the existing framework of the Price Law while focusing on widely agreed-upon content to enhance legislative efficiency [2][3] - The government pricing system is refined to allow for the establishment of pricing mechanisms rather than fixed price levels, enabling more flexible responses to market supply and demand [3] Group 3: Regulation of Unfair Pricing Practices - The revision emphasizes the need for improved regulation of market prices to ensure orderly price formation and address issues like price dumping, price gouging, and price collusion [4][5] - New provisions are introduced to regulate unfair pricing behaviors in the context of the digital economy, addressing the use of data and algorithms in pricing strategies [4][5] Group 4: Addressing "Involution" Competition - The revision expands the scope of low-price dumping regulations to include services and third-party pricing rules, providing legal support for combating "involution" competition [5][6] - The proposed changes reflect the commitment to create a fairer and more dynamic market environment while maintaining market order and stimulating innovation [6]

7月24日，国家发展改革委、市场监管总局就《中华人民共和国价格法修正草案（征求意见稿）》（以 下简称"价格法"）向社会公开征求意见，起止时间为2025年7月24日至8月23日。 我国价格法自1998年实施以来，在引导资源优化配置、促进物价合理运行、保护消费者和经营者合法权 益等方面发挥了重要作用。但随着经济社会发展和价格改革深化，价格法部分条款存在修改完善的必 要。 本报记者杜雨萌 从此次修订来看，主要涉及三方面，共10条内容。 其一，完善政府定价相关内容。一是结合政府价格管理方式变化，明确政府指导价不局限于基准价及其 浮动幅度的形式。二是结合政府定价从定水平向定机制转变的实际，明确定价机关可通过制定定价机 制，确定政府定价的水平。三是根据近年工作实践，明确成本监审作为政府制定价格的重要程序，进一 步加强价格成本监管。四是随着互联网发展，政府听取意见形式更多样，新增公开征求社会意见、问卷 调查等方式。 其二，进一步明确不正当价格行为认定标准。一是完善低价倾销的认定标准，规范市场价格秩序，治 理"内卷式"竞争。二是完善价格串通、哄抬价格、价格歧视等不正当价格行为认定标准。三是公用企事 业单位、行业协会等不得利用 ...

Core Viewpoint - The draft amendment to the Price Law aims to address the changing market dynamics and enhance regulation against unfair pricing behaviors, particularly focusing on "low-price dumping" practices [1][3]. Group 1: Key Aspects of the Draft Amendment - The draft consists of 10 articles, primarily focusing on three areas: improving government pricing regulations, clarifying standards for identifying unfair pricing behaviors, and strengthening legal responsibilities for price violations [1]. - This is the first amendment to the Price Law since its implementation in 1998, reflecting the evolving economic landscape and the need for updated regulatory frameworks [3]. - The amendment expands the definition of "low-price dumping" to include both goods and services, and introduces provisions against coercing other operators to sell below cost [4][5]. Group 2: Focus on Unfair Pricing Behaviors - The revision emphasizes the need to regulate various unfair pricing behaviors, including price manipulation, price gouging, price discrimination, and forced sales, in response to the rise of digital economies [8]. - The amendment aims to provide a clearer legal basis for enforcement against low-price dumping, focusing on the intent to eliminate competition or monopolize the market [5][12]. - The draft also addresses the challenges posed by the digital economy, prohibiting the use of data, algorithms, and technology to engage in unfair pricing practices [8]. Group 3: Industry Response and Regulatory Environment - There is a growing call from businesses for stricter regulations against "involutionary" competition, where companies engage in unsustainable pricing strategies to gain market share [9][10]. - Various government departments are actively working to combat "involutionary" competition, with specific measures being taken in industries like automotive and e-commerce to ensure fair market practices [10]. - The amendment is part of a broader legal framework that includes the Anti-Monopoly Law and the Anti-Unfair Competition Law, aiming for a comprehensive approach to regulate low-price competition and maintain market order [12].

7月24日，国家发展改革委、市场监管总局发布关于《中华人民共和国价格法修正草案（征求意见稿）》 （下称《征求意见稿》）公开征求意见的公告。 对于市场最为关注的"反内卷"议题，修正草案进一步明确了不正当价格行为认定标准。 具体包括四方面： 一是完善低价倾销的认定标准，规范市场价格秩序，治理"内卷式"竞争。 二是完善价格串通、哄抬价格、价格歧视等不正当价格行为认定标准。 三是公用企事业单位、行业协会等不得利用影响力、行业优势地位等，强制或捆绑销售商品、提供服务并 收取价款。 四是强化对经营场所经营者价格行为的规范。 价格法自1998年实施以来，在引导资源优化配置、促进物价合理运行、保护消费者和经营者合法权益等方面发 挥了重要作用。随着经济社会发展和价格改革深化，价格法部分条款也需要修改完善。 2023年，价格法修订列入《十四届全国人大常委会立法规划》。按照部署要求，国家发展改革委、市场监管总 局研究起草了价格法修正草案。 据悉，修正草案共10条，主要涉及三方面内容，包括政府定价、明确不正当价格行为认定、健全价格违法行为 法律责任。 在完善政府定价方面，将结合政府价格管理方式变化，明确政府指导价不局限于基准价及其浮 ...

7月24日，国家发展改革委、市场监管总局发布关于《中华人民共和国价格法修正草案（征求意见 稿）》（下称《征求意见稿》）公开征求意见的公告。 价格法自1998年实施以来，在引导资源优化配置、促进物价合理运行、保护消费者和经营者合法权益等 方面发挥了重要作用。随着经济社会发展和价格改革深化，价格法部分条款也需要修改完善。 2023年，价格法修订列入《十四届全国人大常委会立法规划》。按照部署要求，国家发展改革委、市场 监管总局研究起草了价格法修正草案。 在《征求意见稿》中，增设了多条与"反内卷"相关的款项内容，例如：明确经营者不得利用数据和算 法、技术以及规则等从事前款规定的不正当价格行为；不得在依法降价处理鲜活商品、季节性商品、积 压商品等商品或者有正当理由降价提供服务外，为了排挤竞争对手或者独占市场，以低于成本的价格倾 销，或者强制其他经营者按照其定价规则以低于成本的价格倾销。 这些细节内容，无不反映出监管层治理"内卷式"竞争的决心。对于那些价格违法行为，监管层面也会加 大处罚力度。《征求意见稿》显示，将调整对经营者不正当价格行为的处罚规定，提高经营者违反明码 标价规定的处罚标准，明确经营者拒绝或者虚假提供成本 ...