e-magazine
Going for Gold
The Nanjing Youth Olympic Games combine sporting events with cross-cultural education for young athletes
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Weekly Watch
Expert's View
World
Nation
Business
Finance
Market Watch
Legal-Ease
North American Report
Forum
Government Documents
Expat's Eye
Health
Science/Technology
Lifestyle
Books
Movies
Backgrounders
Special
Photo Gallery
Blogs
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Web-magazine
Reader's Letters
Make Beijing Review your homepage
Hot Links

Market Avenue
eBeijing

ECONOMY
THIS WEEK> THIS WEEK NO. 35, 2014> ECONOMY
UPDATED: August 26, 2014 NO. 35 AUGUST 28, 2014
Anti-Trust Probe
Share

A total of 12 Japanese auto parts and bearing makers have been fined 1.24 billion yuan ($201 million) owing to their collusion in creating a price monopoly, the National Development and Reform Commission (NDRC) confirmed on August 20.

The Japanese auto parts suppliers punished include Hitachi, Denso, Aisan, Mitsubishi Electric, Mitsuba, Yazaki, Furukawa, Sumitomo and bearing makers are Nachi, NSK, JTEKT and NTN.

Hitachi and Nachi were exempted from the punishment as they were the first Japanese companies to report their monopoly agreements and offer important evidence in this regard, the NDRC said.

The fines to 10 other companies varied from 290 million yuan ($47.14 million) to 29.76 million yuan ($4.84 million), according to the NDRC.

The eight Japanese auto parts suppliers were found to have frequently met bilaterally or multilaterally in Japan from January 2000 to February 2010, negotiating over prices and implementing agreements over quoted prices concerning orders from the Chinese market.

The four bearing makers were also found to have jointly convened meetings in Japan and Shanghai from 2000 to June 2011 to discuss the timing and scope of price hikes for bearing products in the Chinese market and later raised their price according to these negotiations, the NDRC said.

Such moves by the 12 Japanese auto parts and bearing suppliers were in violation of the Chinese Anti-Monopoly Law, which prohibits behavior excluding or restraining market competition and thus damaging the rights and interests of downstream manufacturers and consumers, the NDRC said.



 
Top Story
-Special Reports: Fighting Against Ebola Virus
-Special Coverage: China's Commitment to Africa
-A Celebration of Youth and Unity
-Special Reports: Nanjing 2014 Youth Olympic Games
-Empowerment Through Infrastructure
Most Popular
在线翻译
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved