Guangzhou construction company fined 1.75 million yuan for "rushing ahead".

On June 25, the State Administration for Market Regulation made an administrative penalty decision on the illegal acquisition of equity of Guangdong Hongye Investment and Development Group Co., Ltd. by Guangzhou Construction Group Co., Ltd., imposing an administrative fine of 1.75 million yuan on Guangzhou Construction. Article 30 of the Anti-Monopoly Law of the People's Republic of China stipulates that operators shall not implement concentration before a decision is made by the State Council's anti-monopoly enforcement agency. The penalty decision document of this case shows that on December 20, 2023, Guangzhou Construction reported to the State Administration for Market Regulation on its acquisition of Hongye Investment's equity transaction. However, on the second day after the report, the equity change registration of Hongye Investment was completed, which constitutes a typical "racing" behavior and violates the Anti-Monopoly Law of the People's Republic of China on the implementation of operator concentration.