China's State Administration for Market Regulation (SAMR) has published six typical cases of anti-monopoly reviews on concentrations of undertakings, as part of a broader initiative to address the issue of "involutionary" or low-quality, homogeneous competition in key industries.

The first case involves Tencent Holdings Ltd's acquisition of a stake in Ximalaya. SAMR received the anti-monopoly filing for this concentration on June 11, 2025, and formally accepted the case on September 3, 2025. Following an extensive investigation, objective review, and thorough deliberation, the regulator approved the deal with restrictive conditions on May 12, 2026. The five attached conditions directly target competitive concerns, aiming to safeguard fair competition in China's online audio and music streaming platform markets, protect the legitimate rights of businesses and consumers, and effectively regulate and prevent anti-competitive platform behaviors while promoting win-win development for platforms and their users.

In the solar energy sector, TCL Zhonghuan Renewable Energy Technology Co., Ltd's acquisition of Dawnergy New Energy Technology Co., Ltd was approved unconditionally. After receiving the filing on April 1, 2026, and with the Beijing Municipal Market Regulation Administration handling the review, SAMR cleared the transaction on May 25, 2026. Both companies are engaged in crystalline silicon solar-related businesses and plan to integrate product technology capabilities through equity transfer. This deal is expected to improve the industry's competitive landscape, fundamentally reduce low-level homogeneous competition, and help the photovoltaic sector shift from scale expansion to quality enhancement by cutting inefficient supply.

Another unconditional approval was granted for the acquisition of EAST Group Co., Ltd by Hubei Jingjiang Industrial Investment Group Co., Ltd. The filing was received on December 31, 2025, and reviewed by the Chongqing Municipal Market Regulation Administration, with the final approval issued on January 22, 2026. In this transaction, a state-owned urban investment platform from Jingzhou intends to inject capital and resources into EAST, a leading domestic high-end power supply enterprise. The deal aims to support the company's transformation into an "AI + New Energy" integrated service provider, drive the localization of the regional new energy industry, and provide a model for the energy storage sector to escape the trap of involutionary competition.

The review also covered two new joint venture cases. Cangzhou Mingzhu Plastic Co., Ltd and Guangzhou Zengcheng Development Zone Eastern Center Investment Co., Ltd received unconditional approval on May 25, 2026, for establishing a joint venture in Guangzhou to produce and sell wet-process lithium-ion battery separators and PE plastic pipes. This deal is expected to enhance regional supply capabilities for new energy materials and plastic pipe products while promoting business integration and optimizing the competitive structure. Separately, Ningbo Huaxiang New Sanpower Technology Co., Ltd and Zhejiang Anzhi Automotive Technology Co., Ltd had their joint venture approved on June 6, 2026. The new Shanghai-based entity will focus on manufacturing automotive solenoid-valve adjustable damping shock absorbers and air supply units for vehicle air suspension systems, helping the auto parts industry break external technology blockades and curb disorderly homogeneous competition.

Finally, Xinjiang Tianchi Energy Co., Ltd and Xinjiang Xiangdao Logistics Co., Ltd received unconditional approval on January 27, 2026, for their proposed joint venture. Both companies are involved in coal wholesale and plan to establish a third-party logistics enterprise to achieve vertical integration of coal production and supply chain logistics. This transaction is designed to ensure smooth outbound transportation channels for coal from Xinjiang, enhance logistics stability, and boost overall competitiveness.

This year, SAMR has launched a special campaign to improve the efficiency of anti-monopoly review for concentrations of undertakings. The initiative focuses on enhancing quality and promoting competition, continuously optimizing reviews in key sectors such as platforms, photovoltaics, and lithium batteries. It aims to lawfully support enterprises in using mergers and acquisitions to revitalize idle assets, improve operational efficiency, and maintain a fair competitive market landscape.