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Original caption: Ali Yuewen Fengchao was fined for violating antitrust law
Source: Beijing Commercial Daily
On December 14, the State Administration of Market Supervision imposed sanctions in three cases of the acquisition of Yintai Commercial by Alibaba, the acquisition of Xinli Media by China Reading Group and the acquisition of China Post Smart Delivery by Fengchao. The three companies were fined 500,000 yuan in administrative penalties. Just last Friday, the Politburo meeting made it clear for the first time to strengthen antitrust and prevent the disorderly expansion of capital. This is the first time since the “Antitrust Law” came into force that the Politburo of the CPC Central Committee has clearly stated that it will strengthen antitrust.
Maximum penalty
According to the main person in charge of the Antitrust Office of the State Administration of Market Supervision, as of the investigation of the case, the three transactions were all capital acquisitions. After the completion of the acquisition, Alibaba, Wenwen and Fengchao respectively obtained control rights and belonged to the Articles of the Antitrust Law. The concentration of companies provided for in article 20. The turnover of the operators participating in the concentration has obviously reached the information standards stipulated in article 3 of the “Provisions of the State Council on standards for the declaration of concentration of operators “. Before the implementation of the concentration, there was no declaration of concentration of commercial operators in accordance with the law.
According to Article 48 of the Antitrust Law, Ali, Yuewen and Fengchao were fined 500,000 yuan.
“People who don’t understand the background may think that this 500,000 yuan is very small, but it is actually extraordinary. This is the maximum penalty. It has never reached 500,000 yuan before, and generally less than 300,000 yuan.” Beijing Intellectual Property Law Research Association Wei Shilin, general secretary of the Professional Committee on Competition Law and senior partner of the Beijing Dacheng law firm, told a reporter from the Beijing Business Daily.
The aforementioned official also stated: “Although the fines are relatively low, the sanctions in the three previous cases can tell society to strengthen antitrust supervision in the Internet field, and eliminate the psychology of chance and wait and see what may have some companies. Compared to other jurisdictions. At present, the amount of fines for the illegal execution of the concentration of companies in China is really low. During the review of the Antitrust Law, the State Administration of Market Supervision it has also carried out in-depth studies and demonstrated issues such as the amount of fines for the illegal execution of the concentration, and has published the draft amendments to the Antitrust Law.
A reporter for the Beijing Commercial Daily noted that according to the “Draft Amendments to the Antitrust Law (Draft for Public Comment)” announced by the State Administration for Market Regulation in January this year, fines for the implementation of merger without declaration are have revised the previous year. Less than 10% of sales.
Actively rectify
Both Baidu and Shanda have faced antitrust appeals, but in recent years, the most influential antitrust cases on the internet are these three. On December 14, as soon as the State Administration of Market Supervision issued the news of the punishment, “Ali Yuewen Fengchao was fined for violating the antitrust law” and was on Baidu’s Hot List.
The aforementioned person in charge stated that the three cases announced on this occasion involve agreement control structures, among them, there are situations in which the person under investigation has agreement control structures, and there are also situations in which the target company controls national operating entities through agreements. This is also the first time that the State Administration of Market Supervision has imposed administrative sanctions on the illegal implementation of concentrations by companies that involve agreement control structures, which is of great importance to standardize the concentration of operators in companies that they involve agreement control structures.
Relevant companies also responded successively. A person from Ali said: “After receiving the notification from the relevant department, we have actively rectified and corrected in accordance with the guidelines and requirements of the policy.” Relevant person in China Wenwen replied to the Beijing Business Daily reporter: “Reading Group has been notified and given great importance, and has been actively rectifying and reforming in strict compliance with the requirements of regulatory authorities, and comprehensively performing the pertinent compliance reporting work. “
Shortly after the announcement of the aforementioned sanction decision, the State Administration for Market Regulation also mentioned the merger of Huya and Douyu. The State Administration of Market Supervision said it is reviewing the Huya and Douyu merger and other cases involving centralized declaration of commercial operators that involve agreement control structures. In this regard, the relevant person in Huya replied to the Beijing Commercial Daily reporter: “Huya has already taken the initiative to file a merger with Douyu with the Antitrust Office of the State Administration for Market Regulation in accordance with the law, and will cooperate actively with the review procedures of the competent authorities.
Illegal land
The main person in charge of the Antitrust Office of the State Administration of Market Supervision revealed that “Recently, the State Administration of Market Supervision has received some leads about Internet companies suspected of not declaring the illegal implementation of the concentration of operators. There are more companies, a wider range of industries and a longer period. Quickly verify relevant leads, and investigate and handle transactions that are suspected of not declaring the illegal implementation of the merger. “
At the same time, in the “Double 11” administrative orientation meeting on the regulation of the economic order online, the State Administration of Market Supervision asked the relevant companies to resolve by themselves the alleged illegal implementation of the concentration of operators, hoping to find and address the illegal implementation of operations as soon as possible through the company’s self-examination The case of the concentration of people.
At present, the General Administration is formulating the “Guidelines for Antitrust in the Field of Platform Economics”, has completed the public request for public opinions and is making reviews based on the request for opinions. By developing guidelines, the operability and predictability of the antitrust legal system can be improved and the orderly regulation of competition can be ensured.
The State Administration for Market Regulation emphasizes that it expects operators to realize that the Antitrust Law applies to all entities and treats national and foreign capital, state and private companies, large and small and medium-sized companies, Internet companies and traditional companies without discrimination and equal treatment. The purpose is to ensure the fair participation of various market entities in market competition and to create a business environment for fair competition. Although competition in the field of platform economics presents some new features, the Internet industry is not a place extralegal for antitrust. All companies must strictly comply with antitrust laws and regulations and maintain fair competition in the marketplace. Only in this way can we ensure the healthy development of the entire industry. .
Beijing Business Daily Reporter Wei Wei Wang Chenting
General Administration of Market Supervision: Review of the merger of Huya and Douyu and other cases in accordance with the law.
On December 14, according to the website of the State Administration of Market Supervision, the main person in charge of the Antitrust Office of the State Administration of Market Supervision stated that the merger of Guangzhou Huya Technology Co., Ltd. and Wuhan Douyu Yule Network Technology Co., Ltd. and other operators involved in the control structure of the agreement are being reviewed in accordance with the law. Report the cases collectively.
This is what the aforementioned person in charge mentioned when answering journalists’ questions about the punishment of three undeclared cases involving Alibaba’s investment in the acquisition of Yintai Commercial, the acquisition of Xinli Media by Tencent Holdings Enterprise Reading and the acquisition of China Post Smart Delivery by Fengchao Network.
The person in charge mentioned above mentioned that in the first half of this year, the State Administration for Market Regulation has unconditionally reviewed and approved the case of undertaking a declaration of concentration that involves the control structure of the agreement, the new joint venture between Ming Cha Zhegang and Huansheng Information, and is reviewing Guangzhou Huya Technology Co., Ltd. in accordance with the law. The company merged with Wuhan Douyu Yule Network Technology Co., Ltd. and other cases related to the centralized declaration of business operators involving deal control structures.
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