A PYMNTS Company

China: Vitamin C fine proves damaging for relations with US

 |  March 19, 2013

Reports have said that Beijing is speaking out against the US court that recently ordered two Chinese manufacturers of Vitamin C to pay $162 million in damages for price-fixing. The US court is now accused of infringing on Beijing’s sovereignty. A spokesman for China’s Ministry of Commerce spoke out against the US court at a press conference, arguing that the ruling was “unfair and improper” and that the accused companies were simply complying with the Chinese government’s requirements. Last week a federal court in New York ordered that North China Pharmaceutical Group Corp and one of its affiliates to pay the fine after the defendants argued that the “price-fixing cartel” found to have existed by the jury was the result of Chinese government decisions. The fines were trebled by the judge.

    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: Global Post

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