On August 21, the State Administration for Market Regulation (SAMR) published six typical cases of concentration-of-undertakings reviews aimed at helping to rectify "involutionary" competition.

Tencent Holdings Limited's acquisition of Ximalaya Inc. equity - On June 11, 2025, SAMR received the anti-monopoly filing for Tencent Holdings Limited's acquisition of Ximalaya Inc. equity, and formally accepted it on September 3, 2025. The concentration may have the effect of eliminating or restricting competition in China's online audio platform market and online music platform market. After extensive research, objective review, and thorough deliberation, SAMR lawfully approved the case with restrictive conditions on May 12, 2026. The five restrictive conditions attached directly address the competition concerns and all parties' interests, firmly safeguarding fair competition order in the domestic online audio and online music platform markets, protecting the legitimate rights and interests of business operators and consumers, effectively regulating and preventing anti-competitive platform behavior, and promoting win-win development among platform enterprises, on-platform merchants, and workers.

TCL Zhonghuan Renewable Energy Technology Co., Ltd.'s acquisition of Yidao New Energy Technology Co., Ltd. equity - On April 1, 2026, SAMR received the anti-monopoly filing for TCL Zhonghuan Renewable Energy Technology Co., Ltd.'s acquisition of Yidao New Energy Technology Co., Ltd. equity. Entrusted by SAMR, the Beijing Municipal Market Regulation Bureau lawfully accepted and reviewed the case on April 3, 2026. Both parties are engaged in crystalline silicon solar-related businesses and intend to integrate product technology capabilities through equity transfer. On May 25, 2026, SAMR unconditionally approved the case. The transaction helps improve the industry competition landscape, fundamentally weaken low-level homogeneous "involution," promote the photovoltaic industry to reduce inefficient supply, and shift from scale expansion to quality improvement.

Hubei Jingjiang Industrial Investment Group Co., Ltd.'s acquisition of East Group Co., Ltd. equity - On December 31, 2025, SAMR received the anti-monopoly filing for Hubei Jingjiang Industrial Investment Group Co., Ltd.'s acquisition of East Group Co., Ltd. equity. Entrusted by SAMR, the Chongqing Municipal Market Regulation Bureau lawfully accepted and reviewed the case on January 9, 2026. In this transaction, the Jingzhou state-owned urban investment platform intends to inject capital and resources into East Group, a leading domestic high-end power supply enterprise, through equity acquisition. On January 22, 2026, SAMR unconditionally approved the case. The transaction helps the enterprise transform into an "AI + New Energy" integrated service provider, drives regional new energy industry development, and provides an industry benchmark for the domestic energy storage sector to escape "involution."

Cangzhou Mingzhu Plastic Co., Ltd. and Guangzhou Zengcheng Development Zone Eastern Center Investment Co., Ltd. establishing a new joint venture - On May 9, 2026, SAMR received the anti-monopoly filing for the establishment of a new joint venture by Cangzhou Mingzhu Plastic Co., Ltd. and Guangzhou Zengcheng Development Zone Eastern Center Investment Co., Ltd. Entrusted by SAMR, the Guangdong Provincial Market Regulation Bureau lawfully accepted and reviewed the case on May 15, 2026. The parties signed an agreement to establish a joint venture in Guangzhou to produce and sell wet-process lithium-ion battery separators and PE plastic pipeline products. On May 25, 2026, SAMR unconditionally approved the case. The transaction is conducive to enhancing regional supporting supply capacity for new energy materials and plastic pipes, driving the integration of similar businesses, and optimizing the industry competitive structure.

Ningbo Huaxiang Xinsandian Technology Co., Ltd. and Zhejiang Anzhi Automotive Technology Co., Ltd. establishing a new joint venture - On April 30, 2026, SAMR received the anti-monopoly filing for the establishment of a new joint venture by Ningbo Huaxiang Xinsandian Technology Co., Ltd. and Zhejiang Anzhi Automotive Technology Co., Ltd. Entrusted by SAMR, the Shanghai Municipal Market Regulation Bureau lawfully accepted and reviewed the case on May 22, 2026. The parties intend to establish a joint venture in Shanghai to produce and sell automotive solenoid-type adjustable damping shock absorbers and air supply units for vehicle air suspension systems. On June 6, 2026, SAMR unconditionally approved the case. The transaction helps the auto parts industry break through external technology blockades while curbing disorderly homogeneous competition and promoting healthy industry development.

Xinjiang Tianchi Energy Co., Ltd. and Xinjiang Xiangdao Logistics Co., Ltd. establishing a new joint venture - On January 7, 2026, SAMR received the anti-monopoly filing for the establishment of a new joint venture by Xinjiang Tianchi Energy Co., Ltd. and Xinjiang Xiangdao Logistics Co., Ltd. Entrusted by SAMR, the Shaanxi Provincial Market Regulation Bureau lawfully accepted and reviewed the case on January 13, 2026. Both parties are engaged in coal wholesale-related businesses and intend to achieve vertical integration of coal production and supply chain logistics through the establishment of a third-party logistics enterprise. On January 27, 2026, SAMR unconditionally approved the case. The transaction helps the enterprise ensure smooth outbound logistics channels from Xinjiang and enhance transportation stability and overall competitiveness.

It is understood that this year, SAMR has deployed a special action to enhance the effectiveness of anti-monopoly regulation in concentration-of-undertakings reviews. Focusing on improving quality and efficiency and promoting competition, the authority continues to optimize anti-monopoly reviews of concentrations in key sectors such as platforms, photovoltaics, and lithium batteries, lawfully supporting enterprises in revitalizing idle assets and improving operational efficiency through mergers and acquisitions, thereby maintaining a fair competition market landscape.