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]