Research On The Fair Competition Review System In The Merger Of Central Enterprises In China

Enterprise merger is an effective means to develop economies of scale and enhance international competitiveness.However,it may also form a market monopoly and cause damage to the order of free competition in the market.At present,the reform of state-owned enterprises is in full swing in China.As the “vanguard” driving the development of market economy,the strategic restructuring of central enterprises has become the focus on current reform and supply-side structural adjustment.Among them,the merger of central enterprises can become a common means of state-owned economic development and a prerequisite for further deepening reforms because it can rapidly expand the market size of central enterprises and improve international competitiveness.The merger and rapid expansion of central enterprises has made it an absolute advantage in many industries,and at the same time it has also occupied the development space of the private economy to a certain extent.The merger of central enterprises pursues the economies of scale and the rapid improvement of the status of the international economy.If the scientific decision-making of the merger of central enterprises cannot be guaranteed and the next reform cannot be promoted in time,the effect of the merger of central enterprises may be more harmful than good.In the long run,the divergence of economies of scale has declined.Central enterprises have been slack to increase their market share through innovation because of their stable economic position.This is also not conducive to the preservation and appreciation of state-owned capital and the further deepening of state-owned enterprise reform.In June 2016,the State Council promulgated the Opinions on Establishing a Fair Competition Review System in the Construction of a Market System,which marked that the fair competition review system has taken root in China.However,the fair competition review system is still short in China,and many important issues have not been clarified.For example,whether the relevant policies on state-owned economic development have special characteristics due to their property rights,status and mission are not substantively involved in the review or exemption.In addition,regarding the policy regulation of central enterprises,the level of policy-making departments is relatively high.If only fair competition review system is regarded as a “small system”,it is difficult to effectively supervise the unilateral promotion of central enterprise mergers.The relevant economic policies of the state topromote the merger of central enterprises are concealed and procedural legality.If the substantive review is not carried out from the level of policy effectiveness,the status of competition policy may fall behind economic policies and is not conducive to the maintenance of market competition order.Whether the fair competition review system can be effectively implemented and the effective restraint of the anti-competitive behavior of the government subject from the policy level remains to be investigated.Therefore,it is urgent to discuss the legislation and implementation of the fair competition review system from the above aspects,and to further improve the fair competition review system based on the status quo of China’s economic development and the goals and needs of relevant national economic policies.The fair competition review system has developed and expanded in China,and it has become an important extension of the system of regulating administrative monopoly under the anti-monopoly system,safeguarding the fair competition market environment in China,and laying the institutional foundation for the continuous reform of state-owned assets and state-owned enterprises.