Liǎng jiā gōngsī nǐzhuī-wǒgǎn, tuīchū le hěnduō xīn chǎnpǐn.
The two companies, competing neck and neck, launched many new products.
Tips
usage
Positive - healthy, motivating competition. Common in descriptions of classrooms, sports teams, sales teams, manufacturing drives. Contrast with 明争暗斗 (open and covert struggle), which is negative.
grammar
One of several 你…我… 'mutual' idioms: 你来我往 (back and forth), 你一言我一语 (chatter back and forth), 你死我活 (life-or-death struggle). 你 and 我 here are generic placeholders - not literally 'you and me.'