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China: Distilleries fined $72M for price-fixing

By  |  February 19, 2013
China: Distilleries fined $72M for price-fixing

Two of China’s leading liquor distillers have been fined by authorities more than $72 million for price-fixing. According to reports, Kweichow Moutai Co Ltd and Wuliangye Yibin Co Ltd have been fined for financially penalizing third-party distributors of their “baijiu” alcohol if they sold the product at lower prices below what the two companies set. The fines are a result of an authoritative investigation and were issued by the National Development and Reform Commission.

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    Full Content: Reuters

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