专访黄勇：行业“反内卷”需规避垄断风险

Core Viewpoint - The article discusses the ongoing issue of "involution" competition across various industries, characterized by price mechanism failures, low innovation, and market disorder, reflecting systemic problems such as insufficient effective demand and inefficient resource allocation [3][12] Summary by Sections Involution Competition - Involution competition manifests as price mechanism failures, low innovation, and market disorder, indicating systemic issues in effective demand and resource allocation [3] - The Central Economic Work Conference in December 2024 emphasized the need to comprehensively address involution competition and regulate the behaviors of local governments and enterprises [3] Industry Associations and Actions - Various industry associations and leading enterprises have initiated actions to combat involution competition through self-regulation agreements on price and capacity [5][6] - However, these actions may raise antitrust concerns, as they could lead to monopolistic behaviors [5][6] Antitrust Risks - Yellow Yong categorizes monopolistic behaviors into three types, with "core cartel" agreements being a primary focus of antitrust law [4][6] - Industry associations must operate within legal frameworks to avoid antitrust risks, particularly concerning price and capacity coordination [5][6] Regulatory Framework - The Antitrust Guidelines issued in 2024 detail behaviors that could lead to monopolistic agreements, emphasizing the need for industry associations to be cautious [6][7] - High-risk behaviors include exchanging sensitive competitive information and setting industry price guidelines, which could lead to antitrust violations [7] Exemption Procedures - Antitrust laws in various countries, including China, provide exemption clauses for certain behaviors during economic downturns or industry overcapacity [8][9] - The burden of proof for demonstrating that a monopolistic agreement benefits market competition is high, especially for price and capacity agreements [8][9] Impact on International Operations - Industry associations and enterprises must be aware of the implications of their actions on international operations, as antitrust laws are strictly enforced globally [10][11] - The guidelines for overseas antitrust compliance highlight the risks associated with monopolistic agreements, including verbal agreements and coordinated actions [10][11] Complexity of Involution Causes - Involution has complex causes, categorized into policy-driven, market distortion, and behavior infringement types, each requiring tailored regulatory approaches [13][14][15] - The need for a comprehensive approach to address involution competition is emphasized, respecting market dynamics and promoting a balanced regulatory environment [15]