B[The State Administration for Market Regulation approved Focus Media’s acquisition of Xinchao Media’s equity with additional restrictive conditions] On October 10, the State Administration for Market Regulation recently approved Focus Media’s acquisition of Xinchao Media’s equity with additional restrictive conditions. On October 10, the State Administration for Market Regulation introduced the relevant circumstances of the case.
This case is the first concentration of undertakings approved with restrictive conditions in China’s advertising industry. The conditional approval of this case is a further deepening of antitrust law enforcement in the advertising media, an important livelihood service field. During the review process, the State Administration for Market Regulation conducted multiple rounds of field surveys, data calculations and market interviews. After review, Focus Media is the leading company in the domestic elevator media advertising market, with a market share of more than 50%, and has a dominant market position. Xinchao Media ranks second in the market. The concentration will further consolidate Focus Media's market dominance. After the concentration, the entity's bargaining power over downstream advertisers will be further enhanced, which may harm the interests of advertisers and consumers by raising prices, lowering service quality, or attaching unreasonable transaction conditions. At the same time, judging from the overall operating conditions of the advertising industry, the continued diversion of online advertising channels and the indirect competition constraints formed by other outdoor advertising categories can weaken the adverse impact of this concentration on competition to a certain extent.
This additional condition includes three aspects: canceling the exclusive cooperation clause of the property company and no longer adding new exclusive agreements to ensure fair competition in the industry; maintaining the original service level and transaction price to protect the rights and interests of advertisers; the company must also improve the anti-monopoly compliance system, regularly report the performance of the contract, and achieve long-term supervision. Taken together, the commitment plan with additional restrictive conditions submitted by the declarer can effectively reduce the competitive impact caused by the concentration, and the State Administration for Market Regulation decided to approve the concentration with additional restrictive conditions. (CCTV Finance) B[Fujian Province optimizes and adjusts the housing provident fund policy: further broadens the scope of provident fund withdrawal and use] October 1, Fujian recently launched a new policy to optimize and adjust the housing provident fund. On the basis of the provident fund withdrawal policy introduced at the beginning of the year for renovations and parking spaces, the scope of provident fund withdrawals has been further expanded, new measures have been added to benefit the people from withdrawals of property fees and house purchase deed taxes, and policies for withdrawals for renovations and loan repayments have been simultaneously optimized to promote housing consumption and serve people's livelihood. The new policy supports the withdrawal of owner-occupied housing property fees and expands the scenarios for withdrawal of housing consumption. Depositors are supported in applying to withdraw housing provident funds to pay property fees for self-occupied housing in the family's name. They can apply for withdrawals on a half-year or annual basis, effectively reducing the economic pressure on people's long-term property payments and allowing provident fund dividends to run through the entire process of living safely. The New Deal introduces a new policy on the withdrawal of property purchase deed tax and improves financial support for home ownership.
The deed tax paid for house purchase can be included in the total house purchase expenditure, and the depositor is allowed to withdraw the account balance to pay the house purchase deed tax, accurately resolving the financial pressure on the masses in all aspects of home purchase, and fully supporting the rigid and improved housing consumption demand. The New Deal also further optimizes loan repayment and withdrawal policies to make the use of loan repayment funds more convenient. Increase the frequency of loan repayment withdrawals, and depositors can apply to withdraw housing provident funds on a monthly or annual basis to repay home purchase loans. When repaying housing loans outside the province, there is no need to submit the household registration certificate, provident fund payment certificate or social security payment certificate of the depositor or spouse in the place where the house is purchased. This further simplifies the materials, lowers the threshold, and effectively reduces the loan repayment burden of depositing employees. B[Guangdong: Encourage the exploration of methods such as "first expropriation, then replacement" to implement the replacement of state-owned construction land and collective construction land] On September 3, the Guangdong Provincial Department of Natural Resources publicly solicited opinions on the "Several Measures to Accelerate the Redevelopment of Inefficient Land to Promote High-Quality Development (Draft for Comment)". It was mentioned that exploring the implementation of land replacement. Sporadic low-efficiency land such as corner land, sandwich land, and flower arrangement land involved in the implementation of regional overall planning and block development, state-owned construction land, and collective construction land can be exchanged with the approval of the municipal and county people's governments in accordance with the principle of "similar area or equivalent value, voluntary exchange, and voucher exchange." It will not be regarded as a transaction and will not involve the verification and payment of relevant taxes and fees. The replacement plot must have obtained the certificate of ownership of the construction land use right, has no rights restrictions such as mortgage or seizure, and at least one party has been included in the inefficient land database. The value difference can be made up through currency, property, etc. Replacement plots can be registered for real estate with the replacement plan and relevant approval documents, replacement agreement and other materials, without submitting relevant tax payment vouchers. Encourage the exploration of methods such as "first expropriation, then replacement" to implement the replacement of state-owned construction land and collective construction land.
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