数据驱动型国际并购反垄断审查:挑战与应对

Anti-Monopoly Review of Data-Driven International M&As:Challenges and Countermeasures

随着5G、大数据、云计算、物联网以及人工智能等信息技术的突破创新和融合应用,数据成为推动经济发展的重要战略要素,数据驱动型并购成为国际并购的新趋势。传统反垄断分析框架缺乏对数据因素的充分考量,难以及时全面识别数据驱动型并购可能具有的竞争损害。针对数字经济的特点,文章建议采用营业额与交易额相结合的申报标准,相关商品市场与相关数据市场相结合的界定方法,市场份额与数据因素相结合的市场力量评估标准,价格因素与个人信息保护因素相结合的竞争损害标准,行为性救济与结构性救济相结合的救济措施,进一步完善数据驱动型国际并购反垄断审查制度。

With the breaking-through innovation and application infusion of5 G,big data,cloud computing,internet of things,AI and other information technologies,data has become an important strategic factor for economic growth,data-driven mergers are new trends in international M&As.The traditional anti-monopoly analysis framework is lack of sufficient considerations for aspects related to data as input,and is difficult to identify the possible competitive damage of data-driven M&As in a dynamic and comprehensive manner.In terms of the characteristics of digital economy,the article proposes that a targeted review can be adopted,which includes a declaration standard combining turnover with volume of trade,a delineation combining relevant product markets with relevant data markets,a market power standard combining market shares with data factors,an anti-competitive damage standard combining price factors with personal information security factors,and a relief measure combining behaviour remedies with structural remedies.With an integrated review system built upon all modified measures and tools mentioned above,we can improve the effectiveness of anti-monopoly review of international data-driven mergers.