Core Viewpoint - The construction of a rule of law-based business environment is crucial for attracting talent and capital, which is beneficial for development. Recent legal reforms have provided reassurance to private entrepreneurs [1][3]. Group 1: Legal Reforms - Over the past five years, China has made significant progress in establishing a rule of law-based business environment through scientific, democratic, and lawful legislation, with 115 laws related to private economy, company law, and anti-monopoly law being enacted or amended [3]. - Additionally, 158 administrative regulations, including those on fair competition review and payment guarantees for small and medium enterprises, have been established or amended [3]. - A comprehensive review of over 600 existing administrative regulations has been conducted to eliminate unequal policies and laws affecting enterprises, supporting the creation of a unified market and promoting high-quality development [3]. Group 2: Government Services - The previous challenges of bureaucratic inefficiency have been addressed, with new experiences such as "one-stop service" and "data-driven processes" becoming part of daily operations [5]. Group 3: Market Environment - The combination of an effective market and proactive government has led to the establishment of a legal economy and credit economy, resulting in a continuously optimized business environment. China is now recognized as one of the countries with the fastest and most significant improvements in the business environment among major global economies [7].

Group 1: Background and Significance - The Price Law of the People's Republic of China, in effect since May 1, 1998, is undergoing its first revision in 27 years to adapt to new economic conditions and enhance government price regulation effectiveness[2] - The revision aims to address the need for legal frameworks to combat "involution" in competition and promote the construction of a unified market[1][9] Group 2: Key Focus Areas of the Revision - The draft amendment consists of 10 articles focusing on improving government pricing, clarifying the identification of unfair pricing behaviors, and establishing legal responsibilities for price violations[3][16] - The revision emphasizes the need for stronger leadership and clearer standards for identifying unfair competition, expanding the definition of unfair pricing behaviors from 8 to 10 items, including explicit provisions against data-driven price discrimination[3][18] Group 3: Legal Framework and Coordination - The Price Law, along with the Anti-Monopoly Law and the Anti-Unfair Competition Law, will work together to create a robust legal foundation against "involution" in competition, addressing issues like predatory pricing and maintaining fair competition[4][25] - The collaboration among these laws will enhance market regulation, ensuring that all market participants adhere to fair pricing practices and competition standards[26][28] Group 4: Future Policy Directions - The ongoing revision of the Price Law is expected to lead to continuous policy updates aimed at addressing "involution" in competition, which may become a key focus in the 14th Five-Year Plan[4][35] - Analysts suggest monitoring key sectors where the National Development and Reform Commission may conduct cost investigations to ensure compliance with the new pricing regulations[35]