Japanese auto suppliers hit with $200m in fines
Twelve Japanese auto parts and bearing supplier companies will be fined 1.24 billion yuan ($201 million) for monopolistic conduct related to pricing, the largest fine ever handed out by Chinese antitrust regulators.
The National Development and Reform Commission said on Wednesday that eight auto spare parts suppliers will be fined 831.96 million yuan and four bearing suppliers 403.44 million yuan.
Spare parts that had their prices fixed were used in more than 20 models of Honda, Toyota, Nissan, Suzuki and Ford vehicles.
The fines were up to a maximum of 8 percent of annual sales for companies judged to have most severely violated China’s Anti-Monopoly Law.