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China: Antitrust fines headed for foreign auto industry

 |  August 6, 2014

China’s National Development and Reform Commission said Wednesday that it will fine 12 Japanese manufactures of auto parts for anticompetitive behavior, an announcement it made simultaneously with news that Audi and Chrysler would similarly be sanctioned.

The NDRC announced that it would soon lodge fines against a dozen Japanese makers of car parts and bearings following an investigation into the foreign auto parts industry. The NDRC did not name the companies involved, but said it would announce the results of its investigation into the companies as well as the fines soon.

In announcing the auto parts fines, the NDRC also said that it would lodge fines against Audi and Chrysler for monopoly practices, say reports.

The luxury car companies are facing fines of up to 10 percent of their annual sales in the country.

The NDRC is in the middle of an ongoing investigation against the companies and said that it has evidence the firms “conducted anticompetitive behaviors.”

In a statement, the NDRC said the companies “will be published accordingly in the near future.”

Full content: Reuters and ECNS

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