New rules mulled for the auto industry

12 Japanese suppliers fined a record $201 million for price manipulation

China is considering drafting new rules for the automotive industry on the basis of its Anti-Monopoly Law, according to an official at the nation's antitrust regulator.

He made the comment on Wednesday after 12 Japanese auto suppliers were fined a total of 1.24 billion yuan ($201 million) by the National Development and Reform Commission for manipulating prices.