According to the provisions of the Anti-Monopoly Law of the People’s Republic of China, the General Administration of Market Supervision (GAMS) has made a decision on the cases of acquisition of equity interests in Kaiyuan Commercial Co. Ltd. to acquire the equity of the small fish group, Suning Rundong Equity Investment Management Co., Ltd. to acquire the equity of Shanghai Botai Yuezhen Electronic Equipment Manufacturing Co. Ten cases of illegal implementation of the concentration of operators were opened for investigation.
After investigation, the above ten cases all violated Article 21 of the Anti-monopoly Law of the People’s Republic of China and constituted illegal implementation of the concentration of operators, which was assessed to have no effect of excluding or restricting competition.
On March 12, 2021, the General Administration of Market Regulation (GAMR) made an administrative penalty decision in accordance with Articles 48 and 49 of the Anti-monopoly Law of the People’s Republic of China, and imposed fines of RMB 500,000 on each of the twelve enterprises, including Yintai Commercial (Group) Co.
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