China revises declaration standards for concentration of business operators
BEIJING, Jan. 26 — Chinese Premier Li Qiang has signed a decree of the State Council to unveil revised rules on declaration standards regarding the concentration of business operators.
The revised rules, which took effect Friday, are meant to ease market access, reduce institutional transaction costs, make anti-monopoly and law enforcement oversight more efficient, and promote mergers and acquisitions.
The new rules revise the turnover declaration standards of business operators involved in concentration.
Specifically, the global combined turnover benchmark for all operators participating in the concentration in the previous fiscal year has been raised from above 10 billion yuan (about 1.4 billion U.S. dollars) to above 12 billion yuan.
The benchmark for all operators participating in the concentration in China in the previous fiscal year has been raised from above 2 billion yuan currently to over 4 billion yuan.
In addition, the rules required that the anti-monopoly law enforcement department of the State Council should evaluate the implementation of the revised standards in accordance with the economy’s development.