Ja­panese auto sup­pli­ers hit with $200m in fines

China Daily (Canada) - - NEWSCAPSULE -

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.

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