Core Viewpoint - China is revising its price law framework, which has been in place for 27 years, to curb destructive low-price competition and establish new market rules for the digital economy [1] Group 1: Legislative Changes - The National Development and Reform Commission and the State Administration for Market Regulation have drafted the "Draft Amendment to the Price Law of the People's Republic of China" and are seeking public opinion, marking a critical stage in this legislative process [1] - This amendment is the first since the law was implemented in 1998 and was officially included in the legislative plan of the 14th National People's Congress in 2023 [1] Group 2: Addressing "Involution" Competition - A key focus of the amendment is to provide clearer legal tools to combat "involution" competition, particularly targeting predatory pricing practices [2] - The current price law's provisions on predatory pricing are complex and limited to goods and operators, making it inadequate for the rise of platform economies and service consumption [2] - The revised draft clarifies the two core elements of predatory pricing: the means (pricing below cost) and the purpose (eliminating competitors or monopolizing the market) [2] Group 3: Expanding Scope and Regulatory Framework - The scope of predatory pricing is expanded from "goods" to include "goods and services," and the regulatory subjects are broadened to include third parties that set pricing rules, such as platforms [3] - New provisions prohibit operators from engaging in unfair pricing practices using data, algorithms, and technology, addressing the changes in business models in the digital economy [4] Group 4: Comprehensive Regulatory System - The amendment is part of a broader effort to enhance the market economy's legal framework, requiring multiple laws to work together to address chaotic low-price competition [6] - The revised price law will collaborate with the newly amended Anti-Unfair Competition Law and Anti-Monopoly Law to form a comprehensive legal regulatory system [6] - The draft increases penalties for violations of pricing regulations and clarifies legal responsibilities for providing false cost information [6]

Core Viewpoint - The draft amendment to the Price Law aims to address the evolving market conditions and enhance regulation against unfair pricing behaviors, particularly focusing on "low-price dumping" and other improper pricing practices [1][2][3]. Group 1: Key Amendments - The draft consists of 10 articles, primarily focusing on improving government pricing regulations, clarifying standards for identifying unfair pricing behaviors, and strengthening legal responsibilities for pricing violations [1][2]. - The definition of "low-price dumping" has been expanded to include both goods and services, and it now encompasses actions where one operator forces others to sell below cost [3][6]. Group 2: Regulatory Context - The current Price Law has been in effect for over 27 years, and the proposed changes reflect the need to adapt to new economic realities, including the rise of internet platforms and the prevalence of chaotic low-price competition [1][2]. - The revision process involved extensive consultations with various stakeholders, including government departments, local authorities, social organizations, and experts, to ensure a comprehensive approach [2]. Group 3: Implications for Market Competition - The amendment is expected to help regulate "involutionary" competition, which refers to excessive price competition that undermines market order and fairness [7][8]. - The new provisions aim to provide clearer legal support for enforcement against low-price dumping, thereby promoting a healthier competitive environment [4][6]. Group 4: Broader Legal Framework - The revised Price Law will work in conjunction with other laws, such as the Anti-Unfair Competition Law and the Anti-Monopoly Law, to create a comprehensive legal framework for regulating unfair pricing practices [11]. - The focus on subjective intent in identifying low-price dumping will facilitate clearer enforcement and reduce ambiguity in legal interpretations [4][11].

Core Viewpoint - The People's Bank of China emphasizes the need to create a favorable monetary and financial environment to support a reasonable recovery in prices, highlighting the importance of addressing deep-seated supply and demand structural contradictions [1] Group 1: Monetary Policy and Economic Growth - Current monetary supply growth continues to outpace economic growth, yet prices remain low, indicating that merely increasing money supply without improving supply-demand relationships will not effectively boost demand [1] - The shift in price control strategy is necessary, moving from preventing "price gouging" to preventing "low-price dumping," as excessive production and price competition can suppress prices further [1] Group 2: Business Strategy and Market Dynamics - Companies are encouraged to transition from "price for volume" strategies to "quality for success," focusing on technological innovation, brand building, service quality, and market segmentation as future operational directions [1]

Core Viewpoint - The Indian government is implementing multiple measures to ensure that low-priced dumping does not harm the domestic steel industry [1] Group 1 - The Indian Steel Minister emphasized the importance of protecting the domestic industry from the adverse effects of low-priced imports [1] - The government is actively monitoring the market to identify and address any instances of dumping [1] - Measures being taken include potential tariffs and trade remedies to safeguard local producers [1]