Core Viewpoint - The recent revision of the Price Law in China aims to address the issue of "involution" in market competition, particularly in the context of food delivery platforms and other sectors, by implementing stricter regulations on pricing practices and promoting fair competition [1][2]. Group 1: Background and Context - The "subsidy" war among food delivery platforms has brought "involution" competition into public view, prompting the government to take significant reform measures [1]. - The Price Law, in effect since 1998, has played a crucial role in resource allocation and consumer protection, and its first revision seeks to adapt to new economic realities, including digital and platform economies [1][2]. Group 2: Key Changes in the Price Law - The revision includes ten main points focusing on improving government pricing regulations, clarifying standards for unfair pricing practices, and enhancing legal responsibilities for price violations [2]. - The changes aim to regulate typical issues such as predatory pricing, price discrimination, and price gouging [2]. Group 3: Positive Transformations - The revision shifts the role of consumers from passive recipients to active participants in the pricing process, allowing them to influence pricing mechanisms [3]. - It aims to better protect the rights of workers, particularly in flexible employment sectors, by curbing vicious price wars and redirecting funds towards production and research [4]. - The revision also adapts price governance to address new economic developments, including algorithmic pricing discrimination and platform responsibilities, ensuring a fairer competitive environment [5][6]. Group 4: Implications for Economic Development - The changes are expected to foster a market environment that prioritizes quality over low-cost competition, enabling companies to focus on technological innovation and enhancing overall industry competitiveness [6]. - The revision serves as a critical measure against market chaos and supports high-quality economic development by promoting a fair competition order [6].