China's top market regulator previously convened a public hearing on the case involving Meituan (MEITUAN) acquiring an equity stake in Maiyatian, according to an official statement made in Beijing.
Xie Fang, deputy director of the Anti-Monopoly Bureau II of the State Administration for Market Regulation (SAMR), introduced details of the case at a press conference held in Beijing on the 10th. Xie noted that the Meituan-Maiyatian equity acquisition case is the first platform-sector concentration of undertakings that fell below the filing thresholds set by China's State Council but was legally required to be notified.
Meituan (MEITUAN-W) is a leading online food delivery platform in China, while Maiyatian primarily engages in delivery aggregation platform services, connecting multiple third-party delivery capacity providers and offering delivery solutions to merchants. In 2024, the two parties together held a combined market share exceeding 50% in China's domestic delivery aggregation platform market.
The SAMR attached great importance to the case and conducted its review strictly in accordance with the law. Upon examination, the concentration may have the effect of eliminating or restricting competition in China's domestic delivery aggregation platform services market, potentially affecting small and medium-sized merchants' ability to independently choose delivery capacity and squeezing out other third-party capacity providers. Meanwhile, the concentration further strengthens Meituan's market control in China's domestic online food delivery platform and instant retail service platform markets, potentially enhancing customer stickiness within the Meituan ecosystem, affecting the delivery stability of other platforms, and raising barriers to entry in the relevant markets.
The SAMR promptly informed the notifying party of its preliminary review opinions regarding the potential anti-competitive effects of the case, and the notifying party submitted a conditional commitment proposal. To ensure the objectivity and fairness of the case review, the SAMR held a public hearing on whether the conditional commitment proposal could address the competition concerns.
Xie stated that the hearing legally invited competitors such as Taobao Shangou and JD.com, downstream customers such as Shansong and UU Paotui, as well as industry associations, merchant representatives, rider representatives, and experts and scholars to participate. All parties presented evidence, stated their views, and engaged in cross-examination and debate around core disputed issues including the enforceability of the commitment proposal and how to protect the legitimate rights and interests of all parties, fully expressing their opinions and achieving the expected results, laying a solid foundation for making an objective and fair review decision in accordance with the Anti-Monopoly Law and other legal provisions.
Xie said that next steps will involve advancing the subsequent review of the case in accordance with the law, effectively maintaining fair competition order in the delivery aggregation platform services market, protecting the legitimate rights and interests of various business entities including small and medium-sized merchants and riders, and preventing "involution-style" competition.