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China Prepares to Sanction U.S. Carmaker for Price Fixing
China is preparing to fine an undisclosed U.S. carmaker for ordering its distributors to fix prices beginning in 2014, according to China Daily. Media reports say General Motors Co. is the target.
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China is preparing to fine an undisclosed U.S. carmaker for ordering its distributors to fix prices beginning in 2014, according to China Daily. Media reports say General Motors Co. is the target.
Zhang Handong, the director of China’s National Development and Reform Commission’s price supervision bureau, tells the official government newspaper the timing of the sanction for “monopolistic behavior” is unrelated to president-elect Donald Trump’s criticism of China’s trade policies and his challenge of the “one China” doctrine that Taiwan is part of mainland China.
China Daily says the commission has levied six fines against carmakers since it launched its anti-monopoly investigations five years ago. Within the past two years NDRC has penalized Audi, Daimler and Fiat Chrysler Automobiles—along with a dozen Japanese suppliers—for overcharging customers.
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