Study On Substantive Test Of Regulating Enterprise Merger In Anti-Monopoly Law

Market economy is full of competition and merger is the inevitable result of market competition. The function of merger to market competition system is dual. On the one hand, merger can strengthen the economic power of company and enhance its competition ability. On the other hand, it will form the monopoly power to restrict the normal market competition system in broad or narrow extent. Accordingly, the anti-monopoly law of each country set the focus on the regulation of merger. Our country are facing grim situation after our entry into WTO. For instance, a lot of multinational company has occupied our market through M&A, once these companies gain the monopoly position by their strong economic power, they will definitely threaten our country's economic democracy and economic independence. So it's imperative to speed up the establishment and implement of anti-monopoly law to strengthen the regulation on merger.The regulating institution of enterprise merger always comprises procedural law and substantial law.Because the substantive test is the carbon test and the reason why the merger regulations exist , and also it is the criterion to forbid the merger or not when the examination institutions make a conclusion, and the substantive test of the regulation of enterprise merger is the basis and core of the whole regulating institution of enterprise merger, the author selects the thesis as the title of study on substantive test of regulating enterprise merger in anti-monopoly law. The purpose of this thesis is to analyze and review the substantive test in chapter 4 of the draft of Anti-Monopoly Law of The People's Republic of China and submit constructive amendments to the draft correspondingly, and wish for the benefit of China anti-monopoly law finally.In this thesis, the author adopts several research methods such as historical inspection, comparative analysis, theory with practice and economic analysis. Then, the author studies and discusses deeply, systematically and fully on the substantive test of regulating enterprise merger in anti-monopoly law home and abroad, and points out the deficiency of the substantive test in chapter 4 of the draft of Anti-Monopoly Law of The People's Republic of China. Then the author puts forward the proposals to perfect our legislation by fully adopting and using the foreign advanced experience for reference.Besides the preface, the thesis has three chapters:The first chapter is the summary of enterprise merger, which includes merger types, that is the wide and narrow comprehension of the concept of enterprise merger, the concept of concentrations, the classification of enterprise merger, the necessity of regulating enterprise merger, the principles of regulating enterprise merger and the comment and analysis on the related regulations in the draft. In the second chapter, the author investigates the substantive test of regulating enterprise merger, which includes general substantial criterion and synthetic examination criterion. In the last chapter, the author investigates the substantive test regulated in the graft and airs the opinions concerning the amendments and perfection for China's control and supervision of enterprise merger.