【摘要】 单一经济体认定是反垄断执法中的一项难题。比较美国、欧盟和中国反垄断执法机构认定单一经济体的考量因素及原则发现：美国最高法院认定单一经济体重点考量是否具有“统一的决策中心或独立的意志”“共同的利益或目标”等因素。欧洲法院将“是否具有共同目的”“是否对商业决策施加决定性影响”“是否具有决策自主权或独立决策能力”“参与方之间是否具有控制关系和共同利益”作为分析母公司与子公司、具有共同控股股东的企业、合资企业与出资者、具有委托代理关系的企业等是否构成单一经济体的关键因素；对母公司直接或间接全资持有，或接近全资持有的子公司，欧盟委员会适用母公司对子公司有决定性影响的“可反驳假设”,由母公司承担其未对子公司产生决定性影响的举证责任；对于国有企业而言，若政府未对其行为施加决定性影响，国有企业具有独立的决策权，同一集团的各个企业相互独立，则不构成单一经济体。中国反垄断执法机构在认定横向垄断协议或单一经济体时，还考虑了是否存在统一、协调的经营意志。对国有企业集团的反垄断执法可使用“E—B—C”范式进行分析，对属于“普通公司”的国有企业集团而言，其下属的子公司(极特殊情况下甚至不具有法人资格的分公司)若在决策、运营和管理上独立于母公司，则可视为单独实体。更多还原

【Abstract】 The identification of a single economic entity is a challenging issue in anti-monopoly enforcement. By comparing the considerations and principles used by the anti-monopoly enforcement agencies in the United States, the European Union, and China to identify a single economic entity, it is found that the US Supreme Court focuses on factors such as whether there is a “unified decision-making center or independent will”, “common interests or goals”, etc. The European Court considers “whether there is a common purpose”, “whether it exerts decisive influence on business decisions”, “whether it has decision-making autonomy or independent decision-making ability”, “whether there is a control relationship and common interests among the participants”, etc. as the key factors for analyzing whether a parent company and a subsidiary, enterprises with a common controlling shareholder, joint ventures and investors, enterprises with a principal-agent relationship, etc., constitute a single economic entity; For parent companies that directly or indirectly wholly own, or are close to wholly owning, subsidiaries, the European Commission applies the “rebuttable presumption” that the parent company has a decisive influence on the subsidiary, and the parent company bears the burden of proof that it did not have a decisive influence on the subsidiary. When determining a horizontal monopoly agreement or a single economic entity as a trade-off, China’s anti-monopoly enforcement agencies also take into account whether there is a unified and coordinated business will. When conducting anti-monopoly enforcement on state-owned enterprise groups, the E-B-C paradigm analysis should be used. For state-owned enterprise groups that are “ordinary companies”, if their subsidiaries(in extremely special cases, even branches without legal person status) are independent in decision-making, operation, and management from the parent company, they can be regarded as separate entities.更多还原