The State Administration of Market Supervision prohibits the merger of Huya Company and Douyu International Holdings Co., Ltd. in accordance with the Anti-Monopoly Law. Tencent issued an announcement stating that it will earnestly abide by the decision of the General Administration of Market Supervision, actively cooperate with regulatory requirements, operate in compliance with laws and regulations, and earnestly fulfill its social responsibilities. At the beginning of this year, the market supervision department conducted an anti-monopoly review and made the above decision in strict accordance with the law on the merger of Huya Company and Douyu International Holdings Limited declared by Tencent Holdings Co., Ltd.
access:
Jingdong PLUS+Baidu Netdisk+QQ Music+iqiyi-One price, multiple rights
The actions of the market supervision department show that anti-monopoly is by no means empty words. The “Anti-Monopoly Law” is a powerful weapon to maintain market fairness. It is necessary to maintain a high degree of vigilance against all kinds of market monopolistic behaviors.
This powerful anti-monopoly law enforcement action is a purification of the market environment, and it deserves extensive attention and profound reflection from various market entities and different business models. Tencent’s current upstream online game operation service market share exceeds 40%, ranking first. Huya and Douyu have more than 40% and 30% of the downstream game live broadcast market share, ranking first and second, totaling more than 70%. If Huya and Douyu merge, Tencent will independently control the merged entity and form a monopolistic power in the industry market. The result is not conducive to fair market competition, not conducive to the protection of consumer rights, and detrimental to the online game and game live broadcast market. The healthy and sustainable development of the company.
The phenomenon of corporate power concentration and monopoly in the high-tech environment has attracted more and more attention from the society. Before the “Anti-Monopoly Law,” any enterprise and any business model are treated equally. The regulatory authorities will never be soft on the deterrence and governance of market monopolies. Strengthening the review of fair competition, opposing unfair competition methods, and stopping monopolistic behaviors can truly establish a market-oriented, legalized, and internationalized business environment. Stopping monopolistic behavior is not only a unilateral action of the regulatory authorities. It is necessary to form a consensus and joint action of the whole society. It is necessary to effectively use the system to regulate and maintain market rules, ensure market fairness, encourage market innovation, and form market vitality.
.