Renmin Chinese Law Review
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Renmin Chinese Law Review

Selected Papers of The Jurist (法学家), Volume 6

Edited by Jichun Shi

Renmin Chinese Law Review, Volume 6 is the sixth work in a series of annual volumes on contemporary Chinese law which bring together the work of well-known scholars from China, offering an insight into current legal research in China.
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Chapter 2: The improvement of reporting standards enforcement mechanisms on operator mergers

Xu Ruiyang

Abstract

The implementation of reporting standards relies on the integration between the statutory reporting standard and discretionary power. But the statutory reporting standard neglects the influence of unquantifiable factors, such as characteristics of network economy, intellectual property, technological innovation, etc., and the “turn over” criterion is unable to detect the concentration on Internet enterprises. On the other hand, the discretionary power is not fully constrained, which especially does not comply with standards of declaration nor substantially have anti-competitive power. The reporting standards should include saleroom, market share and unquantifiable factors, and set the Specific Standard Operating Procedures for Internet enterprises. At the same time, means of procedural control, an accountability system and judicial supervision can guarantee that the discretionary power will not be abused.

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