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Original caption: Three companies were punished for violating the antitrust law Expert: Signals issued to strengthen supervision Alibaba, Wenwen and Fengchao stated that they had received notifications from the relevant departments and that they are actively rectifying and implementing
Every time reporter Zhang Huaishui Every time editor Chen Xing
On December 14, the State Administration for Market Regulation announced that, in accordance with the provisions of the Antitrust Law, Alibaba Investment Co., Ltd. (hereinafter Ali Investment) acquired the capital of Yintai Commercial (Group) Co ., Ltd., and China Reading Group acquired Xinli Media Holdings. Investigated three cases in which the illegal implementation of the concentration of commercial operators was not declared, including the capital of Shenzhen Fengchao Network Technology Co., Ltd. (hereinafter Fengchao Network) and the acquisition of capital from China Post Smart Delivery Technology Co., Ltd.
The State Administration of Market Supervision made a sanction decision in accordance with Articles 48 and 49 of the Antitrust Law and imposed a fine of 500,000 yuan on Ali Investment, China Reading Group and Fengchao Network.
Liu Junhai, director of the Institute of Business Law at Renmin University of China, said in an interview with the “Daily Economic News” reporter that this time Ali Investment, China Reading Group and Fengchao Network were punished by the top grid. The implementation of functional departments of “strengthen antitrust and prevent capital” was related. The concrete manifestation of “disorderly expansion” has also launched signals to strengthen antitrust oversight in the Internet field, dispelling the chance and wait-and-see psychology that some companies may have.
“There is no problem with the company getting bigger and stronger, but the abuse of market dominance is an act prohibited by the Antitrust Act. In recent years, there have been certain monopoly problems in both traditional and traditional industries. in emerging markets, especially with the Internet platform economy. Development is becoming more and more mature, and many platform companies have gradually moved from a period of rapid-scale expansion to a period of resource control, and are concentrating irregular competitive behaviors, “said Liu Junhai.
Chinese visual map by Liu HongmeiThe Internet is not an outlaw place
Public information shows that Alibaba Investment is the lead entity for Alibaba Group investments and mergers, China Reading Group is a subsidiary of Tencent, and Fengchao Network is an affiliate of SF Express.
At noon on December 14, the lead person in charge of the Antitrust Office of the State Administration for Market Regulation responded to questions from journalists about the three cases of non-disclosure of cases related to the acquisition of Yintai Commercial by Ali Investment , the acquisition of Xinli Media by China Reading Group and the acquisition of China Post Smart Delivery by Fengchao Network. He said they hope that operators will realize that the “Antitrust Law” applies to all entities, and treats domestic and foreign capital, state and private companies, large and small companies, Internet companies and companies traditional without discrimination and equal treatment. The goal is to protect all types of businesses. Market entities participate in market competition fairly and create a business environment for fair competition.
The official emphasized that although competition in the field of platform economics presents some new characteristics, the Internet industry is not outside the antitrust law. All companies must strictly comply with antitrust laws and regulations and maintain fair competition in the marketplace. Only then can we ensure that the whole The healthy development of the industry.
The reporter noted that the three companies also responded promptly. Alibaba said that after receiving the notification from the relevant departments, it has actively rectified and corrected in accordance with the policy guidelines and requirements. The Reading Group responded: “They have received the notice and attach great importance to it, have actively rectified and amended it in strict compliance with the requirements of regulatory authorities, and comprehensively completed the relevant compliance statement work.”
Fengchao replied to the “Daily Economic News” reporter: “He has received a notification from the relevant departments, he sincerely accepts it and actively implements it.”
Liu Junhai said that competition is the source of vitality for the market economy. Only competition can stimulate the vitality of companies. The establishment of a socialist market economic system since China’s reform and opening-up is a vivid manifestation of fostering competition and breaking the monopoly.
Preventing companies from forming a monopoly through mergers and acquisitions.
The aforementioned main responsible indicated that Internet platform companies must strictly abide by the provisions of the “Antitrust Law” and must declare the concentration of operators that comply with the declaration standards in accordance with the law. Once again, it is clear that the concentration of companies that involve the control structure of the arrangement, regardless of whether the acquirer or the acquired party is involved in the control structure of the arrangement, falls within the scope of the antitrust review of the concentration of companies and must be declared in compliance with the law before implementation. The concentration will not be implemented without the approval of the declaration.
“The General Administration of Market Supervision will review in accordance with the law to prevent companies from forming monopolies through mergers and acquisitions, or suffocating potential competitors through acquisitions of small and medium-sized companies, and hindering innovation., To maintain good business pattern of competition in the market, and continue to stimulate the motivation of business innovation. ” Said the person in charge.
The “Daily Business News” reporter found that the administrative sanction decision on Ali Investment showed that in June 2017, Ali Investment obtained 73.79% of Intime Commercial’s share capital through various methods and obtained control of Intime Commercial, which belongs to the “Anti-Monopoly The concentration of companies provided for in article 20 of the Law.
According to Article 21 of the Antitrust Law, “If the concentration of companies complies with the reporting standards established by the State Council, the companies must inform the Antitrust Law Enforcement Agency of the State Council by advance and will not implement concentration if they have not done so. ” Alibaba Investment’s acquisition of 73.79% of the share capital in Yintai Commercial was completed in June 2017. It has not been declared before, in violation of article 21 of the Antitrust Law, and constitutes a concentration of operators that have not declared their illegal implementation in accordance with the law.
Liu Junhai said that in January this year, the State Administration of Market Regulation publicly solicited opinions on the “Revised Draft”. One of the highlights is the inclusion of the Internet super platform in the scope of legislation and regulations, and he emphasized that when determining that Internet operators have a dominant position in the market, they should consider the Internet. Factors such as effects, economies of scale, blocking effects, and the ability to master and process relevant data. “Previously, the Internet used information asymmetry, big data to kill familiarity, and other monopolistic behaviors to almost blatantly seek profit. In future judicial practice, strengthening antitrust oversight of Internet platforms will gradually become normal.” .
