经营者集中审查是强化反垄断执法、维护公平竞争秩序的重要内容。数据显示，2025年，国家市场监管 总局共审结经营者集中案件706起，同比增长9.8%，彰显出我国市场竞争充分，经济呈现向新向优发展 态势。而全球领先的审查效率，也让优质投资并购项目落地更高效。 市场监管总局反垄断二司副司长胡品洁介绍，从违法情形看，主要涉及四类行为：一是经营者达到申报 标准，但未依法事前申报就实施了集中；二是集中申报后，在审查阶段，未经批准实施；三是经营者违 反附加限制性条件审查决定；四是集中虽未达到申报标准，但有证据证明集中具有或者可能具有排除、 限制竞争效果，市场监管总局已依法要求申报，但经营者未依法申报而实施集中。 "处罚不是目的，希望通过执法，督促企业依法合规经营，认真履行申报义务和附条件承诺，维护市场 公平竞争秩序。"胡品洁提示广大经营者注意3点合规要求。首先是应报尽报。集中达到申报标准的要履 行事先申报义务；未达到申报标准，但要求申报的，也要依法申报；未申报、申报后未经批准的均不得 实施集中。其次是严守承诺。对具有或者可能具有排除、限制竞争效果的集中，不予禁止的，执法机构 在经营者提交承诺的基础上，附加限制性条件批准；违 ...

强化执法威慑，是维护市场秩序的重要手段。2025年以来，市场监管总局共立案调查13起违法实施经营 者集中案件，对5起案件公开作出行政处罚，罚款金额共计870万元。 从企业主体和行业类型看，6起案件涉及国有企业、4起涉及民营企业、3起涉及外资企业，业务涵盖零 售、工程和建筑施工、半导体、人力资源服务、电力电缆等领域。从裁量情节看，5起公开处罚的案件 均不具有排除、限制竞争效果，处以500万元以下罚款，1起因"自首"从轻处罚，5起因"首次违法""积极 配合调查""建立反垄断合规制度"等下调了罚款数额。 市场监管总局反垄断二司副司长胡品洁介绍，从违法情形看，主要涉及四类行为：一是经营者达到申报 标准，但未依法事前申报就实施了集中；二是集中申报后，在审查阶段，未经批准实施；三是经营者违 反附加限制性条件审查决定；四是集中虽未达到申报标准，但有证据证明集中具有或者可能具有排除、 限制竞争效果，市场监管总局已依法要求申报，但经营者未依法申报而实施集中。 "处罚不是目的，希望通过执法，督促企业依法合规经营，认真履行申报义务和附条件承诺，维护市场 公平竞争秩序。"胡品洁提示广大经营者注意3点合规要求。首先是应报尽报。集中达到 ...

美国得克萨斯州一名联邦法官周四叫停了一项扩大企业并购审查所需提交信息范围的规定，称该规定超 出了美国联邦贸易委员会（FTC）的权限。 这项于2024年最终敲定的规定，原本会为美国联邦贸易委员会及美国司法部的反垄断执法人员提供更多 与并购交易相关的信息。 部分交易撮合者曾赶在该规定于去年2月生效前，争相提交审批申请，以规避其披露要求。美国商会去 年提起诉讼，要求叫停这一规定。 得克萨斯州泰勒市联邦地区法官Jeremy Kernodle——由唐纳德・特朗普总统任命——裁定，联邦贸易委 员会（FTC）未能证明该规定的收益大于成本。 美国得克萨斯州一名联邦法官周四叫停了一项扩大企业并购审查所需提交信息范围的规定，称该规定超 出了美国联邦贸易委员会（FTC）的权限。 这项于2024年最终敲定的规定，原本会为美国联邦贸易委员会及美国司法部的反垄断执法人员提供更多 与并购交易相关的信息。 部分交易撮合者曾赶在该规定于去年2月生效前，争相提交审批申请，以规避其披露要求。美国商会去 年提起诉讼，要求叫停这一规定。 得克萨斯州泰勒市联邦地区法官Jeremy Kernodle——由唐纳德・特朗普总统任命——裁定，联邦贸易委 员会（ ...

Core Viewpoint - The National Market Supervision Administration (NMSA) has announced improvements in the review rules for operator concentration, highlighting a significant increase in the number of cases processed in 2025, indicating a robust market competition environment [1] Group 1: Review Statistics - In 2025, the NMSA concluded 706 cases of operator concentration, representing a year-on-year increase of 9.8% [1] - The average acceptance time for cases was 17.9 days, while the average review time from acceptance to conclusion was 26.8 days, maintaining a leading efficiency among major global jurisdictions [1] Group 2: Regulatory Approach - The NMSA aims to enhance the regulatory framework and enforcement efforts to ensure a balance between facilitating market activities and maintaining effective oversight [1] - The administration's approach is designed to stimulate market vitality and uphold fair competition [1]

Core Viewpoint - The article emphasizes the importance of operator concentration review in strengthening antitrust enforcement and maintaining fair competition in the market [1] Group 1: Regulatory Developments - During the "14th Five-Year Plan" period, the State Administration for Market Regulation concluded 3,667 operator concentration cases, involving a transaction amount of approximately 17.4 trillion yuan [1] - The revised antitrust law has been in effect since August 1, 2022, leading to systematic improvements in the operator concentration review system [1] - The regulatory framework now covers the entire chain of reporting, review, punishment, and compliance [1] Group 2: Review Efficiency - Over 99% of the concentrations were quickly approved, encouraging operators to legally implement concentrations [1] - The annual reporting volume increased by 74% compared to the "13th Five-Year Plan," while review efficiency has further improved [1] Group 3: Future Directions - The State Administration for Market Regulation plans to adhere to legal, credit, and intelligent regulation to create a fair and vibrant market environment [1] - This approach aims to inject strong momentum into the construction of a unified national market [1]

Core Viewpoint - The article emphasizes the importance of operator concentration review in strengthening antitrust enforcement and maintaining fair competition order during the "14th Five-Year Plan" period [1] Group 1 - The State Administration for Market Regulation reviewed a total of 3,667 operator concentration cases during the "14th Five-Year Plan" period [1] - The total transaction amount involved in these cases was approximately 17.4 trillion yuan [1]

Core Viewpoint - The National Market Supervision Administration has intensified efforts to combat the abuse of power and anti-competitive practices, with a significant increase in the number of investigations and case resolutions over the past year [1][2]. Group 1: Regulatory Actions - In the past year, the number of cases investigated and resolved by the administration increased by 34% and 32% respectively [1]. - The administration has reviewed and modified over 12,000 important policy measures proposed by local governments to ensure compliance with national market standards and fair competition [1]. Group 2: Focus Areas for 2023 - The administration will focus on three main areas to eliminate local protectionism and administrative monopolies, including strict law enforcement, source governance, and compliance building [2]. - Special actions will be organized to address key cases and abolish regulations that hinder national market unity and fair competition [2]. Group 3: Source Governance and Compliance - The implementation of the Fair Competition Review Regulations will be deepened, with efforts to revise supporting measures and enhance the review mechanism for important policy measures [2]. - There will be an emphasis on compliance guidance in key areas, regular risk warnings, and the public exposure of fair competition enforcement cases [2].

Group 1 - The central government emphasizes the importance of balancing development and regulation in the platform economy, aiming to enhance the governance system and regulatory standards [1] - The State Administration for Market Regulation has initiated an investigation into Ctrip Group for alleged monopolistic behavior, marking a significant step in promoting fair competition in the digital market [1][2] - The investigation reflects the government's strong stance against monopolistic practices and its commitment to creating a fair competitive environment for various business entities [2] Group 2 - The online travel and accommodation industry is a crucial sector within the platform economy, facing issues such as forced exclusive partnerships and price manipulation, which have raised public concern [3] - The platform economy ecosystem consists of platform enterprises, operators, and consumers, with the need for platforms to consider the interests of all stakeholders to ensure sustainable development [3] - The investigation serves as a response to long-standing concerns and aims to foster a win-win ecosystem that promotes healthy development in the platform economy [3] Group 3 - The revised Anti-Monopoly Law in 2022 includes "encouraging innovation" as a legislative goal, aiming to shift large platform enterprises from a focus on scale to one on technological innovation and service optimization [4] - Effective antitrust enforcement is crucial for breaking down monopolistic barriers and preventing companies from stifling innovation through their advantages [4] - The investigation seeks to uncover potential monopolistic behaviors in the online travel industry, aiming to create a more diverse and inclusive innovation ecosystem [4]

Core Points - The State Administration for Market Regulation has released a revised regulation aimed at curbing the abuse of administrative power to eliminate or restrict competition, effective from February 1, 2026 [1] - The regulation addresses the evolving methods of market intervention, such as using local performance, awards, and tax contributions as credit evaluation criteria, which complicate the identification of illegal activities by antitrust enforcement agencies [1] - Key revisions focus on enhancing accountability, improving procedural connections, limiting conditions for case closure, and utilizing diverse enforcement methods to increase effectiveness [1] Summary by Sections - The new provisions clarify that if an investigated entity abuses administrative power to eliminate or restrict competition and fails to adopt fair competition review opinions, the antitrust enforcement agency may recommend disciplinary actions against responsible personnel [2] - The regulation emphasizes the need for stronger accountability measures, particularly for those who have previously faced antitrust inquiries or have engaged in false rectification without addressing competitive restrictions [2]

Core Viewpoint - The National Market Supervision Administration (NMSA) has revised the regulations to prevent the abuse of administrative power that excludes or restricts competition, enhancing the unified enforcement of antitrust laws across the country [23][24]. Group 1: Regulatory Framework - The revised regulations will take effect on February 1, 2026, and aim to strengthen the enforcement of antitrust laws by clarifying the responsibilities of the NMSA and provincial market supervision departments [1][34]. - The NMSA is responsible for investigating significant cases of abuse of administrative power that affect the national market, while provincial departments handle local cases [2][3]. Group 2: Enforcement Mechanisms - The regulations specify that administrative bodies and organizations authorized to manage public affairs must not abuse their power to limit competition through various means, such as imposing discriminatory practices or restricting market access [4][5][6]. - The NMSA can delegate investigation responsibilities to provincial departments, which must report cases that fall outside their jurisdiction or require higher-level intervention [3][12]. Group 3: Reporting and Investigation - Any individual or organization can report suspected abuses of administrative power to the antitrust enforcement agencies, which are required to keep the identity of whistleblowers confidential [7][8]. - The regulations outline the necessary steps for reporting, including providing relevant facts and evidence, and mandate timely investigations by the enforcement agencies [13][14]. Group 4: Accountability and Penalties - The revised regulations introduce stricter accountability measures for individuals responsible for abusive practices, including potential disciplinary actions against those who fail to comply with fair competition reviews [28][29]. - The NMSA is empowered to issue administrative recommendations to address identified abuses, which may include stopping harmful practices and modifying relevant agreements [13][14][30]. Group 5: Integration with Fair Competition Review - The regulations emphasize the need for coordination with the Fair Competition Review System to ensure that administrative actions do not undermine market competition [24][29]. - The enforcement agencies are required to conduct fair competition reviews before implementing policies that could restrict competition, enhancing the overall regulatory framework [29][30].