A PYMNTS Company

China: Distilleries fined $72M for price-fixing

By  |  February 19, 2013

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.