[NDRC Vows to Crack Down on "Cut-throat Competition"] On May 20, the National Development and Reform Commission (NDRC) held a press conference for May. Li Chao, Deputy Director of the Policy Research Office and spokesperson of the NDRC, stated that currently, China's economy is in a period of replacing old growth drivers with new ones, with new industries, business forms, and models emerging in competition, and traditional industries accelerating their transformation and upgrading. During this process, structural issues have indeed arisen in some industries, with some engaging in blind investment and others failing to keep pace with technological updates and iterations. Some enterprises have become embroiled in "cut-throat competition," with some selling at low, ultra-low, or even below-cost prices, and others engaging in counterfeiting, selling fakes, or passing off inferior goods as superior. These practices have breached the boundaries and bottom lines of market competition, distorted market mechanisms, and disrupted the order of fair competition, necessitating immediate rectification.