效率不仅是企业合并审查的重要目标,也是其实质标准的重要组成部分。在各自的社会发展状况和法律传统作用之下,美欧经历了不同的效率认可发展过程,但殊途同归,它们的效率认可基本实现了趋同。我国《反垄断法》刚刚生效,在效率分析的制度设定方面还很不完善,美欧的经验,可以为我国提供有益的借鉴。 Efficiency is not only an important objective of the review of business combinations, but also an important part of its substantive standards. Under their respective social development and legal traditions, the United States and Europe have undergone different efficiency accreditation development processes, but with the same purpose and with different ends, their efficiency accords are basically converged. China’s “Anti-monopoly Law” has just come into force, and the system of efficiency analysis is still not perfect. The experience of the United States and Europe can provide useful reference for our country.