Core Viewpoint - The article emphasizes the need to address "involutionary" competition, which is characterized by low prices, low quality, and low standards, disrupting market signals and hindering long-term competitiveness and high-quality development [1] Group 1: Key Areas of Governance - The emergence of "involutionary" competition often stems from unclear competition rules in specific sectors and a lack of unified technical guidance for industry development [2] - The revised Anti-Unfair Competition Law, implemented in June last year, targets issues like fake reviews and forced lowest prices, establishing a solid legal foundation for comprehensive governance against "involutionary" competition [2] - The introduction of 167 national standard projects for emerging advantageous industries aims to set clear quality benchmarks and guide technological direction, compelling companies to upgrade their technology and improve product quality [2] Group 2: Market Exit Mechanism - A significant issue contributing to persistent "involutionary" competition is the lack of a smooth market exit mechanism, with many "zombie companies" distorting market signals and disrupting competition [3] - The implementation of the "Mandatory Company Deregistration System" since October last year has effectively streamlined the market exit process, with 294,900 companies undergoing forced deregistration by the end of December [3] - This system ensures that the cleanup process is both rigorous and considerate, preventing dishonest entities from evading responsibilities while promoting a healthy competitive environment [4] Group 3: Collaborative Governance - Addressing "involutionary" competition requires a comprehensive and long-term approach, with various regulations being introduced to create a full-chain governance system [5] - The governance strategy includes preventive measures, regulatory actions during operations, and post-incident cleanups, aiming to shift the focus from quantity to quality in market competition [6] - Different sectors require tailored governance strategies, with a focus on rigid constraints in safety-critical areas and compliance guidance in innovative sectors, allowing for a balance between regulatory order and business vitality [6] Group 4: Future Directions - The market regulatory authority plans to intensify efforts to ensure the effective implementation of newly introduced regulations, aiming to transform these "good laws" into effective governance for high-quality development [7]