China fines Hi­tachi, CRRC sub­sidiary

China Daily (Canada) - - BUSINESS -

TheMin­istry of Com­merce has fined Ja­pan’sHi­tachi Ltd and a unit of do­mes­tic train­maker CRRC Corp 150,000 yuan ($23,100) each for fail­ing to de­clare a joint ven­ture set up more than three years ago. Hi­tachi and Bei­jing CNR agreed in­March 2013 to set up a rail traf­fic sig­nal joint ven­ture and ob­tained a business li­cense a year later but failed to de­clare the tie-up to the au­thor­i­ties,

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