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]