Pedestrians walk on the Bund, opposite Lujiazui Financial Center in Shanghai on June 10, 2022. (LIU JIN / AFP)
The State Administration for Market Regulation, China's top market regulator, raised the turnover bar for the declaration of the concentration of operators for companies in a revised draft that was released for public comment on Monday.
According to the draft, the country will raise the bar for companies to declare the concentration of operators, from the current 10 billion yuan ($1.5 billion), 2 billion yuan and 400 million yuan to 12 billion yuan, 4 billion yuan and 800 million yuan respectively, in terms of global turnover, turnover in China and unilateral turnover in China.
Businesses with a turnover under the above standards don't need to declare, which will greatly help reduce the transaction costs for business operations, according to the draft.
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The revised draft also optimized the application standard, as the market regulator will only carry out the investigation for the concentration of operators into businesses with a turnover of over 100 billion yuan.