The Challenge of the Concentration Review on the Data-Driven M&A and the Countermeasures

Abstract：Data has now become a significant variety of“means of production”，which could not only generate the economic interests for enterprises but also cause large quantities of data- driven mergers and acquisitions（M&A）aiming to integrate the data resource and data handling capacity. The traditional framework mode of concentration review on the data-driven M&A has been faced with the new challenges because of the particularity on its subject（data-driven enterprises），object（user data，user attention and technological innovation）and approach，such as the difficulty in defining relevant market caused by the special subject，the difficulty in identifying market forces caused by the special object ，and the difficulty in applying the reporting system caused by the special approach. In view of the difficulty of market definition ，we can try to introduce the methods of profit model test and product performance test，and update the anti- monopoly guidance to guide the concentration review ；in view of the difficulty of market force identification，we can try to improve the calculation method of market shares，and at the same time，we should fully consider the influence of new market entry barriers factors ；and in view of the difficulty of applying traditional reporting system in the data-driven M&A，we can try to enrich the existing reporting system of single standard by introducing the transaction volume standard and the flow data standard.

Key words：data-driven M&A；concentration review；data monopoly；platform anti-monopoly