Research On Anti - Monopoly Law Regulation Of Mergers And Acquisitions In China 's Cinema

With the fast process of economic globalization, competition among enterpriseshas become into increasingly fierce competition in the world market. In the filmindustry, undoubtedly, cinema M&A (mergers and acquisitions) business has becomean important strategic for transnational business strategy and expanding theinternational market. However, cinema acquisitions in expanding scale and improvingefficiency, developing new markets, and promoting profit growth, very easily lead tomonopoly, not only harms the consumers’ interests, but also isn’t conducive to play afundamental role in the film industry. In order to maintain an effective marketcompetition order in the film industry, and protect healthy development in the filmindustry, all countries regard cinema M&A business as an important regulation objectsin anti-monopoly law.China’s market economy started a little later, and so anti-monopoly legislation islagging behind, to regulate behavior of corporate mergers and acquisitions, in2008,China issued the first <Anti-Monopoly Law>. Subsequently, State Council in China hasissued a number of applicable administrative law regulations, and then has an initialsituation according to the law, for enterprises M&A business and anti-monopoly review.However, China’s anti-monopoly law doesn’t widely be used in the film industry, andalso anti-monopoly review doesn’t focus on cinema M&A business. In addition,China’s substantive review standards in anti-monopoly law still have a lot to beperfected. Specifically speaking, review standard isn’t specific; the definition of therelevant market isn’t clear; judgments for market share and market concentration aren’tclear; and exemption standards aren’t uniform and so on.In this paper, from basic theory of cinema and substantive review in anti-monopolylaw, analyzes legislative problems in cinema M&A business, introduces advancedlegislative experience of Europe and USA, proposes review standards to improvesubstantive review in anti-monopoly law for cinema M&A business; the definition ofthe relevant market isn’t clear, judgments for market share and market concentration,and exemption standards, in order to improve our anti-monopoly law for cinema M&Abusiness, and enable China’s film industry has a healthy operation. The body of the paper has4parts:1stpart introduces the basic knowledge of cinema, the basic theory of anti-monopolylaw, and necessary for review in anti-monopoly law for cinema M&A business andsubstantive review standards.2ndpart focuses on substantive review in anti-monopoly law for cinema M&Abusiness, and a description of <Anti-Monopoly Law>,<Declaration Measures ofBusiness Concentration>, and <Review Measures of Business Concentration> in detail,and then takes the case of Wanda merges AMC, points out a number of problems inChina’s anti-monopoly law for cinema M&A business and substantive reviewstandards.3rdpart, on the basis of2ndpart, introduces advanced legislative experience ofEurope and USA.4thpart, with3rdpart, proposes4specific points to improve substantive review inanti-monopoly law for cinema M&A business.