International automakers penalized for price fixing
By Lan Lan | China Daily | Updated: 2014-09-12 07:37
Investigations not targeting foreign companies, antitrust authorities say
Chinese regulators handed down hefty fines to two multinational automakers on Thursday for price-fixing.
FAW-Volkswagen Sales was fined 248.5 million yuan ($40.5 million) by the Hubei Bureau of Price Supervision, which is equivalent to 6 percent of the company's 2013 Audi sales in Hubei.
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