Research conclusion
The deployment of digital economy supervision in the 14th five year plan is an important focus in the near future. On January 27, the State Council issued the “14th five year plan” for the modernization of market supervision (hereinafter referred to as the “plan”), which involves the creation of a fair competition market environment in many places, and digital economy supervision is still the focus of attention:
(1) the online market and various new business formats put forward higher requirements for market supervision. In the section of “new situation and new requirements faced by market supervision”, the plan mentioned that “online and offline markets form a complex ecology in parallel and intertwined, and Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) new business forms and new models are emerging”;
(2) accordingly, the plan proposes to optimize the regulatory mechanism to adapt to the development of the new economy. Specifically, it includes exploring and innovating the supervision mode in line with the characteristics of new economy such as platform economy, industrial digitization, new individual, micro economy and sharing economy, so as to promote the healthy and orderly development of new economy. The plan focuses on the new business form of transportation, involving the following sub industries: online car hailing, bicycle sharing, car time-sharing leasing, online freight transportation, etc;
(3) continue to improve the anti-monopoly and anti unfair competition rules, including accelerating the revision of the anti-monopoly law and the provisions of the State Council on the reporting standards of business concentration;
(4) comprehensively optimize the Wuxi Online Offline Communication Information Technology Co.Ltd(300959) market competition ecology, including implementing the responsibility of platform enterprises for the audit and supervision of the qualifications of operators and commodity quality in the platform, building a national online transaction supervision platform, promoting cross regional law enforcement cooperation of online transactions, exploring the establishment of cross regional joint meetings, clue notification, evidence transfer, case co investigation, joint case handling and other mechanisms We will promote the improvement of legal norms in the management of data collection and use of platform enterprises and the protection of consumers’ rights and interests, urge platform enterprises to standardize the establishment of rules, data processing, algorithm formulation and other behaviors, formulate the list of responsibilities of large platform enterprises, and improve the connection mechanism between market access and business concentration review system in the fields of people’s livelihood, finance, science and technology, media and so on We will implement the obligation to declare mergers and acquisitions of platform enterprises in accordance with the law, make overall use of e-commerce law, advertising law and price law, and investigate and deal with monopolistic and unfair competition behaviors such as “one out of two”, discriminatory treatment, false publicity, Bill swiping and letter speculation, big data ripening, forced tying and so on. In addition, the plan also mentioned the need to strengthen the market order supervision of Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) new business forms and new models, study and formulate the identification conditions, judgment standards and punishment gradient of new unfair competition behaviors, and issue relevant law enforcement guidelines;
(5) from the perspective of establishing the main body of the economy and promoting the efficiency of data distribution, we should put forward the work rules of digital distribution from the perspective of “establishing the main body of the economy and promoting the efficiency of data distribution”.
Overseas digital economy regulation also deserves attention in the near future, especially: (1) Microsoft plans to acquire Activision Blizzard, and the US Federal Trade Commission will conduct antitrust review on this. It can be seen that the improvement and implementation of business concentration review system is a common topic in all countries around the world; (2) Intel won an appeal against the EU’s € 1.06 billion antitrust fine for providing rebates to computer manufacturers to prevent them from buying chips from their competitors, which regulators believe affect fair competition. Intel believes that regulators must prove that kickbacks have anti competitive effects before they can be sanctioned.
Risk tips
Internet companies have new regulatory risk events in the fields of cross-border data transmission, personal information protection and antitrust.
