Dairy firms hit with fines
By Lyu Chang and Li Jiabao | China Daily | Updated: 2013-08-08 08:06
China meted out its biggest fine for price fixing on Wednesday, the latest effort by authorities to provide a level playing field for industries.
The National Development and Reform Commission, a top economic regulator, has levied fines of nearly 670 million yuan ($108 million) against six milk powder companies accused of price fixing and anti-competitive practices.
The six companies are Mead Johnson, Dumex, Abbott, Friesland, Fonterra and Biostime, according to a statement by the commission.
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