Three Chinese domestic cement companies were fined a total of 114 million yuan ($18.5 million) for meddling with cement pricing, according to the nation's antitrust regulator on Tuesday.
Two listed companies, the Yatai Group (60088) and Tangshan Jidong Cement Co (000401) and Jiamusi-based North Cement, under State-owned China National Building Materials Group Corporation, were fined.
The National Development and Reform Commission said on Tuesday that the three companies met frequently to reach price-fixing agreements, which violated the antitrust law and damaged interests of downstream industries and customers.
Yatai and Jidong were fined 2 percent of their 2012 sales, while North Cement was fined 1 percent of its 2012 sales, given different cooperative attitudes and improvement actions taken by the companies.
|
 |
 |
| Top 9 anti-trust cases in China | 4 most used smartphone operating systems in China |
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
