The price competition of China’s mobile communication industry experiences the periodic evolution of none price competition, dominant price competition, recessive price competition and post-price competition, embodies intrinsic law of coexistence of institutional regulation and market selection, improves market coordination and promotes market efficiency. The price competition of China mobile communication industry has the characteristics of non-cooperative game, industrial regulation and market selection boost the ordered competition, thus, in order to attain the goal of effective competition of China mobile communication market, the role of market mechanism is limited, asymmetric management policy with proper administrative participation of government is indispensable, however, asymmetric management policy needs to be adjusted and improved according to the change of market. 