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Companies fined for raising prices

By Wang Yanfei | China Daily | Updated: 2016-08-02 08:12

Departments and ministries under the State Council, China's Cabinet, have responded to a series of public concerns in the past week, including on food safety, abnormal price fluctuations and healthcare reform.

The National Development and Reform Commission, the country's top pricing regulator, has issued fines of 2 million yuan ($301,700) apiece to six companies for raising prices since May, after the nation rolled out value-added tax reforms that cover construction, property service and other related industries. The companies include the Ritz Carlton and Crowne Plaza hotels in Beijing, New World Development, China World Trade Center in Shanghai and Heng Long Properties in Shenyang, Liaoning province.

In response to concerns over food safety problems revealed by recent media coverage, the Food and Drug Administration said that China will enhance regulations, supervision, and cooperation with local governments in an effort to crack down on food safety violations. The local authorities in Yingkou, of China's northeast Liaoning province, shut down seven food factories for illegally adding toxic gelatin and sodium nitrite to food products such as sausages, according to recent media reports. The local police seized six tons of poisonous food products and 3.6 tons of illegal additives.

Companies fined for raising prices

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