Core Viewpoint - The National Development and Reform Commission and the State Administration for Market Regulation have issued an announcement to address chaotic price competition and maintain a fair market price order, focusing on key industries with significant issues in price competition [1][2]. Summary by Sections Announcement Details - The announcement emphasizes the need for industry associations to conduct research and assess average industry costs to provide reference for reasonable pricing by operators [1]. - It mandates strict adherence to the Price Law and Anti-Monopoly Law by industry associations to promote self-discipline and maintain a fair market environment [1]. Industry Response - The China Iron and Steel Association has already begun addressing price competition issues, having warned six companies about negative cash flow despite increasing crude steel production [1]. - Concerns have been raised by enterprises regarding whether the assessment of average industry costs will affect their pricing autonomy [2]. Regulatory Measures - The announcement outlines three regulatory measures: 1. Reminder and warning to operators suspected of price competition issues to self-regulate their pricing behavior [3]. 2. Enhanced supervision and potential cost investigations for those who do not rectify their pricing practices after warnings [3]. 3. Implementation of credit regulation and penalties for non-compliance [3]. Industry Self-Regulation - The Secretary-General of the China Iron and Steel Association highlighted the need for industry self-regulation to prevent vicious competition, indicating that market self-discipline needs to be strengthened [3].