横向并购反垄断规制中的安全港规则研究

Research on the Safe Harbor Rules in the Horizontal Mergers & Acquisitions Antimonopoly Regulation

安全港规则的实施能够改进反垄断当局执行企业并购政策的可预期性,降低在企业并购领域反垄断法执行的不确定性,提高并购审查效率,降低执法成本。中国是一个正处于转型时期的发展中大国,在经营者集中竞争评估指南中设置安全港规则,除了具有一般意义上的必要性以外,还可以协调竞争政策与产业政策的关系,加快民营经济和中小企业发展,推动国民经济战略性调整,提升产业国际竞争力。本文在比较分析世界主要国家和地区横向并购指南中的安全港规则及其量化标准的基础上,研究了中国经营者集中竞争评估指南中设置安全港规则的必要性,测算了符合中国国情的安全港规则的量化标准,为制定并购规制政策提供了理论依据。

The implementation of the safe harbor rules could reduce uncertainty and improve he efficiency of M＆A check, therefore reduce enforcement costs . China is a developing country during a transition period, and it is necessary to set safe harbor rules in the cheek guidelines of Concentration of Operators in a general sense. The safe harbor rules can also coordinate competition policy and industrial policy, and speed up the development of private economy and small and medium enterprises, and promote the strategic adjustment of the national economy and enhance the international competitiveness of industries. On the basis of a comparative analysis of the safe harbor rules in horizontal M ＆ A Guide and their quantitative criteria in the world＇s major countries and regions, this paper researched the necessity to set safe harbor rules in china and proposed quantita- tive criteria of safe harbor rules according to China＇s reality, and provided a theoretical basis for competition policy.