July 1st news, according to the official WeChat message of the Market监督管理总局, on June 30th, the Market监督管理总局 legally attached restrictive conditions (hereinafter referred to as 'conditional approval') to approve the acquisition of equity of Japan Airlines Corporation (hereinafter referred to as 'Japan Airlines') by ANA Holdings Inc. (hereinafter referred to as 'ANA'). This decision maintains fair competition in the China-Japan aviation cargo service market, ensures the smooth operation of the 'main artery' of China-Japan economic and trade relations, and is of great significance to ensuring the stability of regional industrial chains and supply chains.

This case involves the merger of two major Japanese airlines in the China-Japan aviation cargo service market. During the review process, the Market监督管理总局 focused on assessing the potential impact of the transaction on market competition in aviation cargo services between China and Japan. The review found that ANA and Japan Airlines hold a high combined market share in the China-Japan aviation cargo service market, and the transaction may have an adverse impact on market competition in aviation cargo services on both-way routes between China and Japan. To ensure fair competition in the relevant market after the transaction, ANA made a number of commitments, including continuing to fulfill the existing cargo ground service agreement, not refusing to renew relevant agreements, providing cargo ground services for new entrants, and transferring part of the flight slots. These restrictive conditions are conducive to maintaining the openness and competitiveness of the China-Japan aviation cargo service market and preventing the risk of market monopoly.

As important economies in the East Asian region, China and Japan have close economic and trade exchanges, with aviation cargo serving as an important link connecting the two countries' economic and trade relations. This conditional approval decision fully considers the need to maintain market competition and protect consumer interests, reflecting the attention of China's anti-monopoly enforcement agencies to the international aviation cargo service market.

The Market监督管理总局 will do a good job of supervising the execution of the case, ensuring that the relevant commitments are fulfilled in earnest, continuously maintaining a fair and competitive order in the China-Japan aviation cargo service market, and promoting the healthy development of the aviation logistics industry.