佛山6家燃气企业拟投资合营新企业，市场监管总局叫停

Core Viewpoint - The State Administration for Market Regulation has prohibited the establishment of a joint venture between several gas companies in Foshan, marking the first ban on concentration in the public utility sector since the implementation of the Anti-Monopoly Law in China [1][5]. Group 1: Joint Venture Proposal - In October 2024, six companies, including Bluebird Gas and Nanguan Gas, planned to establish a joint venture in Foshan to invest in and operate a liquefied petroleum gas storage and distribution station [3]. - The joint venture was intended to provide gas source procurement, storage, and filling services for bottled liquefied petroleum gas sold by the participating companies in the Nanhai District [3]. Group 2: Market Analysis - The market share of the six companies in the bottled liquefied petroleum gas market in Foshan was already between 60% and 65%, and the proposed joint venture would create a single entity with a market share exceeding 60%, significantly enhancing market control [3][4]. - The number of operators in the local bottled liquefied petroleum gas market would decrease from eight to four, with the Herfindahl-Hirschman Index (HHI) rising from 1967 to 4640, indicating a substantial increase in market concentration [4]. Group 3: Competitive Concerns - The concentration would lead to a higher likelihood of coordinated behavior among remaining competitors, as the market environment is stable with inelastic demand and high product homogeneity [4][5]. - The joint venture would increase transparency regarding costs, production, and sales, making it easier for operators to reach explicit or implicit agreements on pricing [5]. - The remaining competitors would struggle to effectively challenge price increases by the concentrated entity, as barriers to entry are high and existing competitors are expected to have high capacity utilization rates [4][5].