Core Viewpoint - The Beijing Municipal Market Supervision Administration will officially take over the simplified antitrust review of certain operator concentrations in eight provinces and municipalities starting from August 1, 2025, enhancing the efficiency of merger and acquisition processes in the region [1][2]. Group 1: Antitrust Review Process - Since 2022, the Beijing Municipal Market Supervision Administration has received 274 entrusted cases from the National Market Supervision Administration, covering various industries with a total transaction value exceeding 780 billion yuan [2]. - The establishment of a "Beijing Channel" for mergers and acquisitions aims to streamline the antitrust review process, allowing for more efficient reviews once companies meet the legal declaration threshold [2][4]. - A manual for the review process has been developed to ensure alignment with national standards, along with four supporting rules covering the entire review process [3]. Group 2: Efficiency Improvements - The average acceptance time for cases has been reduced to 14.89 days, and the average conclusion time to 16.23 days, positioning Beijing among the leading pilot provinces and cities [3]. - An online pre-signature and offline signature model has been introduced to optimize internal approval processes [3]. Group 3: Regional Collaboration and Capacity Building - The initiative promotes regional collaboration by enhancing the regulatory capabilities of neighboring provinces and municipalities through training and resource sharing [4]. - A mechanism for information sharing has been established to keep track of the progress of simplified case reviews and to unify review standards across regions [4]. Group 4: Customized Services and Compliance Support - The service model includes one-on-one professional guidance for submissions, aimed at improving communication efficiency and compliance capabilities across various scales and industries [5]. - The initiative also focuses on providing tailored support for state-owned enterprises, multinational corporations, and innovative enterprises [5].

Core Viewpoint - The State Administration for Market Regulation (SAMR) is enhancing its anti-monopoly review efficiency by delegating certain merger and acquisition reviews to local market regulation departments in five provinces and municipalities, aiming to strengthen anti-monopoly and unfair competition measures [1][2]. Group 1: Implementation of Delegated Review System - As of August 1, 2023, SAMR has officially entrusted local market regulation departments in Beijing, Shanghai, Guangdong, Chongqing, and Shaanxi to conduct part of the anti-monopoly reviews for business concentrations [1]. - The pilot program, which started on August 1, 2022, and will last until July 31, 2025, aims to enhance the review system and better serve national economic development strategies [1][2]. Group 2: Achievements of the Pilot Program - Over the three years of the pilot program, SAMR has delegated the review of 1,288 cases, accounting for 54% of all cases during the same period, with a total transaction value exceeding 3 trillion yuan [2]. - The program has significantly improved the efficiency of corporate mergers and acquisitions, effectively stimulating the vitality of business entities [2]. Group 3: Regulatory Improvements and Future Plans - SAMR has revised several regulations, including the "Regulations on the Reporting Standards for Business Concentrations" and the "Guidelines for Anti-Monopoly Compliance in Business Concentrations," to standardize review criteria and reduce transaction costs for enterprises [2]. - Future plans include the development of additional guidelines to enhance the uniformity and standardization of the review process, thereby increasing transparency and predictability in the regulatory environment [2]. Group 4: Enforcement Actions - Recently, SAMR prohibited one business concentration case and conditionally approved three others, highlighting its commitment to maintaining fair competition [3]. - The prohibition of a specific acquisition case marked a significant enforcement action, requiring the involved parties to restore the market to its pre-concentration state [3].

Core Viewpoint - The implementation of the new Anti-Monopoly Law in China aims to enhance the review of operator concentration, streamline the approval process for small mergers and acquisitions, and maintain fair competition in key industries such as semiconductors and pharmaceuticals [1][2][3]. Group 1: Regulatory Changes - The new Anti-Monopoly Law requires a classification and grading review system for operator concentration, with a focus on preventing and controlling potential market dominance [2][3]. - The market regulator has revised the review rules and procedures for operator concentration, enhancing compliance guidance and transparency [2][3]. Group 2: Trial Results - During the three-year trial period, the market regulator reviewed 1,288 cases, accounting for 54% of the total submissions, with a total transaction value exceeding 3 trillion yuan [3][4]. - The regulator prohibited one acquisition and conditionally approved ten others, while raising concerns on 15 cases, effectively maintaining fair competition in various sectors [3]. Group 3: Efficiency Improvements - The review process for simple cases has been optimized, with a target of completing the review within 20 days from submission to acceptance and another 20 days from acceptance to conclusion [4]. - The number of required submission documents has been reduced from three to two, and the information required has decreased from 44 items to 38, significantly improving the efficiency of the review process [4].

Core Viewpoint - The National Market Supervision Administration of China has approved Synopsys' acquisition of Ansys with additional restrictive conditions to prevent anti-competitive effects in the optical software, photonic software, and certain EDA software markets [1][2]. Group 1: Regulatory Approval - The approval of the acquisition is contingent upon Synopsys and Ansys adhering to specific commitments, including the divestiture of certain business segments [1]. - The regulatory body has mandated the separation of Synopsys' optical and photonic device simulation business and Ansys' power analysis software-related operations [1][2]. Group 2: Compliance Requirements - Both companies are required to honor existing customer contracts, ensuring no termination or refusal of contract renewals for Chinese clients [1][2]. - The companies must not bundle or tie their products together and must allow customers to purchase products independently without discrimination in service levels, pricing, or functionality [2]. Group 3: Company Background - Synopsys, established in 1986, and Ansys, founded in 1970, are both publicly traded on NASDAQ, with Synopsys being a leader in EDA software and design IP solutions [2]. - Ansys' S&A software is utilized in the semiconductor design sector, aiding chip designers in their workflows [2]. Group 4: Acquisition Details - The acquisition agreement, announced on January 16, 2024, stipulates that Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys stock per Ansys share, valuing the deal at approximately $35 billion [3]. - The merger aims to combine Synopsys' leading EDA technology with Ansys' simulation and analysis capabilities, enhancing innovation for clients across various sectors, including automotive and aerospace [3].

Core Points - The National Market Supervision Administration has officially transitioned from a pilot program to a formal delegation for antitrust reviews of certain operator concentrations, assigning responsibilities to market supervision departments in five provinces and cities [1] - During the pilot phase, the provincial market supervision bureau handled over 135 simplified cases with a total transaction value of 642 billion yuan, covering more than 30 industries [1] - The average acceptance time for cases was 11.4 days, while the average conclusion time was 18.3 days, indicating an efficient review process [1] Summary by Sections Pilot Program Transition - The pilot program for delegated antitrust reviews has been in place for three years and is now formalized [1] - Five provinces and cities, including Beijing, Shanghai, Guangdong, Chongqing, and Shaanxi, will now be responsible for these reviews [1] Case Handling and Industry Impact - The provincial market supervision bureau received over 100 inquiries related to operator concentration during the pilot [1] - The cases involved various sectors such as warehousing, pharmaceuticals, advertising, new energy, and electricity [1] - The total transaction amount for these cases reached 642 billion yuan [1] Review Process and Efficiency - The average time taken to accept cases was 11.4 days, while the average time to conclude cases was 18.3 days, reflecting a streamlined process [1] - The provincial market supervision bureau implemented various measures to enhance service quality, including phone follow-ups and on-site services for feedback [1] Future Enhancements - The provincial market supervision bureau plans to strengthen regulatory awareness and improve compliance among operators [2] - There will be a focus on enhancing the capabilities of review personnel and improving the quality and efficiency of case reviews [2]

Group 1 - The core viewpoint of the announcement is the transition from a pilot program to a formalized system for antitrust review of business concentrations, effective from August 1 [1][2] - The pilot program, initiated on August 1, 2022, has successfully reviewed 1,288 cases, accounting for 54% of all cases during this period, with a total transaction value exceeding 3 trillion yuan [1] - The formalized system aims to enhance the efficiency of antitrust reviews, promote fair competition, and create a more vibrant market environment [2] Group 2 - The decision to formalize the pilot program is expected to improve the classification and tiered review system for business concentrations, thereby increasing the effectiveness of antitrust scrutiny [2] - The market regulatory authority will continue to strengthen supervision and guidance over the provincial regulatory departments to ensure unified, standardized, and efficient review processes [2]

Core Viewpoint - The State Administration for Market Regulation (SAMR) has transitioned from a pilot program to a formal delegation for antitrust reviews of business concentrations, effective August 1, 2023, allowing five provincial market regulatory departments to conduct reviews [1][2]. Group 1: Background and Implementation - The pilot program for delegated reviews was initiated from August 1, 2022, to July 31, 2025, involving five provinces and municipalities: Beijing, Shanghai, Guangdong, Chongqing, and Shaanxi [2][5]. - During the pilot phase, SAMR delegated 1,288 cases to local authorities, accounting for 54% of all cases, with a total transaction value exceeding 3 trillion yuan [2][5]. Group 2: Evaluation and Future Steps - The pilot program has shown significant effectiveness, achieving its intended goals, enhancing review efficiency, and fostering a compliance atmosphere [2][6]. - To consolidate the achievements of the pilot program, SAMR has decided to formalize the delegation system, which is expected to improve the classification and grading of business concentration reviews [2][9]. Group 3: Review Process and Guidelines - The delegated provincial market regulatory departments will handle cases that meet specific criteria, such as the location of the parties involved and the nature of the market [11][12]. - SAMR will continue to supervise and guide the delegated departments to ensure a unified, standardized, and efficient review process [3][28].

Group 1 - The core viewpoint of the announcement is the transition from a pilot program to a formalized system for antitrust review of business concentrations, effective from August 1 [1][2] - The State Administration for Market Regulation (SAMR) has conducted a pilot program since August 1, 2022, which involved delegating the review of business concentration cases to provincial market regulation departments, resulting in 1,288 cases being reviewed, accounting for 54% of all cases during this period, with a total transaction value exceeding 3 trillion yuan [1] - The pilot program has shown significant effectiveness, with improved review efficiency, enhanced regulatory capacity, and a stronger compliance atmosphere, achieving the intended goals of the delegated review system [1][2] Group 2 - The formalization of the pilot program into a regularized system aims to enhance the classification and tiered review of business concentrations, further improving the effectiveness of antitrust reviews [2] - This initiative is expected to better maintain fair competition in the market, stimulate the vitality of business entities, and create a more equitable and dynamic market environment [2] - SAMR will continue to strengthen supervision and guidance over the delegated provincial market regulation departments to ensure that the review process remains unified, standardized, and efficient [2]

Core Viewpoint - The State Administration for Market Regulation (SAMR) is transitioning from a pilot program to a formal delegation for conducting antitrust reviews of certain business concentrations, effective from August 1, 2025, following a successful trial period from August 1, 2022, to July 31, 2025 [1] Group 1 - The pilot program involved five regions: Beijing, Shanghai, Guangdong, Chongqing, and Shaanxi, which were tasked with conducting antitrust reviews [1] - The pilot program has been evaluated as effective, achieving its intended goals [1] - The transition to formal delegation is based on legal frameworks including the Anti-Monopoly Law of the People's Republic of China and relevant regulations [1]

市场监管总局关于将试点委托转为正式委托开展部分经营者集中反垄断审查的公告市场监管总局关于将 试点委托转为正式委托开展部分经营者集中反垄断审查的公告市场监管总局关于将试点委托转为正式委 托开展部分经营者集中反垄断审查的公告2025年第33号为深入推进竞争政策实施，健全经营者集中分类 分级审查制度，提升经营者集中反垄断审查效能，市场监管总局于2022年8月1日至2025年7月31日试点 委托北京市、上海市、广东省、重庆市、陕西省等5个省(直辖市)市场监管部门开展部分经营者集中反 垄断审查工作。经评估，试点工作成效显著，达到了预期目的。为巩固试点工作成果，依照《中华人民 共和国反垄断法》《国务院关于经营者集中申报标准的规定》《经营者集中审查规定》等法律、行政法 规、规章，决定自2025年8月1日起，将试点委托转为正式委托。(市场监管总局) ...