Social Sciences in China (Chinese Edition)

No.5, 2021

 

Antitrust Regulation of Digital Platforms

(Abstract)

 

Sun Jin

 

The features of dynamic competition, cross-border operations, network effects and oligarchic competition of digital platforms have brought about a serious and complex monopoly problem, undermining competition, damaging consumer interests, inhibiting innovative vitality, and hindering high-quality development. It is therefore necessary to strengthen antitrust regulation of them. Rigid control stifling vitality while a loose one leading to chaos represents a traditionally deep-seated problem in China’s market regulation. In presenting antitrust regulation of digital platforms, this paradox must be avoided. The two-way market, dynamic competition, and disruptive innovation of digital platforms require appropriate theoretical innovations in antitrust regulation that will uphold the concept of restraint and establish positive and inclusive prudential regulatory principles. In the current situation, strengthening regulation is not a matter of stressing strict supervision and increased penalties; rather, the key point lies in regulatory transformation. The substantive issue is one of innovation and the aim is to improve regulation through transformation and innovation. Good law is a prerequisite for good governance. It is necessary to keep pace with the times, speed up the revision of the Antitrust Law and make corresponding regulations to improve the rules of digital competition and provide high-quality institutional supplies for regulation. Actively promoting an efficient regulation that are inclusive and prudential, fair and just, coordinated and comprehensive, as well as a regulation that are incentive and credit and technology empowerment based in accordance with good laws are the ways to realize good governance in antitrust regulation of digital platforms.