产融结合的经济力过度集中及其反垄断规制

伴随着20世纪末金融业和工商产业跨业经营在全球范围重新兴起,产融结合及其集团化渐成主流趋势.产融结合及其集团化容易导致市场经济力过度集中、形成市场垄断势力,可能妨碍市场有效竞争并损害消费者福利.在对产融结合以及产融型企业集团经济力过度集中进行反垄断规制时,应适当区分"首次集中"和"再集中"对竞争的不同影响,坚持竞争政策优先于产业政策,规制的价值目标定位于实现维护消费者利益、提高经济运行效率和保障金融安全的三者统一,在产融结合过程中加强反垄断审查,规制的主体应以产融一体化集团整体为主,以排除或限制竞争效果为规制的实体标准.

Over-Concentration of Market Power Due to Integration of Industry with Finance and Its Regulation by Anti-monopoly Law

With the resurgence of industry convergence between finance, industry and commerce throughout the world, integration of industry with finance (IIF) has gradually become the mainstream. IIF can easily lead to the over-concentration of market power, which will result in market monopoly and, in turn, obstruct effective competition and do harm to the consumer. When using anti-monopoly regulations to counter the over-concentration of market power due to IIF, it is necessary to give priority to competition policy...