Core Viewpoint - The revision of the Price Law is necessary to adapt to new circumstances and improve the rule of law in pricing, aiming to regulate market price order and curb "involution" competition, thereby protecting the legitimate rights and interests of consumers and operators, and maintaining a fair competitive market environment [1][3]. Group 1: Legislative Background - The draft for the revision of the Price Law was publicly solicited for opinions on July 24, marking the first amendment in 27 years since its implementation in 1998 [1]. - The revision is spearheaded by the National Development and Reform Commission and the State Administration for Market Regulation, focusing on current issues such as "price involution" [1][2]. Group 2: New Pricing Mechanisms - The revision aims to construct a new pricing mechanism from an institutional perspective, moving beyond simple amendments to the original text [2]. - The draft clarifies that government-guided prices are not limited to benchmark prices and their fluctuation ranges, allowing for a more flexible pricing mechanism that reflects market supply and demand [2][3]. Group 3: Regulation of Unfair Pricing Practices - The draft specifies standards for identifying unfair pricing behaviors, including low-price dumping, price collusion, price gouging, and price discrimination [3]. - It prohibits public enterprises and industry associations from leveraging their influence to enforce bundled sales or charge fees improperly [3]. Group 4: Government's Role in Market Regulation - The government plays a crucial role in regulating and adjusting market prices, especially in areas of significant public interest or severe market failure [3][4]. - The revised Price Law is designed to work in conjunction with the Anti-Monopoly Law and the Anti-Unfair Competition Law to create a comprehensive legal regulatory system [4].

Core Viewpoint - The National Development and Reform Commission (NDRC) and the State Administration for Market Regulation have drafted a revision of the Price Law to address issues such as low-price dumping and "involution" competition, aiming to enhance market price order and adapt to new economic conditions [1][2]. Group 1: Need for Revision - The Price Law, implemented in 1998, has played a significant role in guiding resource allocation, promoting reasonable price operation, and protecting the rights of consumers and operators [1]. - The current economic landscape has changed, with most prices now determined by the market, highlighting the need for updated regulations to address chaotic low-price competition [1]. - The evolution of price management methods necessitates legal enhancements to improve the governance of pricing and public participation in government pricing decisions [1][2]. Group 2: Key Provisions of the Draft - The draft consists of 10 articles focusing on clarifying government pricing roles, allowing for more flexible pricing mechanisms rather than fixed price levels [3]. - It emphasizes the importance of cost monitoring in government pricing processes and introduces diverse methods for public opinion collection, such as surveys [3]. - The draft aims to refine standards for identifying unfair pricing practices, including low-price dumping and price collusion, while also enhancing penalties for violations of pricing regulations [3].