No 5 Gold price manipulation
Five Shanghai-based gold and jewelry stores and a local trade association have been fined a combined total of 10.59 million yuan ($1.72 million) for manipulating the prices of their products on August 13, 2013.
According to the NDRC, the five stores are Shanghai Laofengxiang Co Ltd, Shanghai Laomiao Gold Co Ltd, First Asia Jewelry, Chenghuang Jewelry and Tianbao Longfeng.
The NDRC said probes by local pricing authorities found the five stores had manipulated the retail prices of their gold and platinum jewelry in accordance with a pricing scheme created in cooperation with the Shanghai Gold & Jewelry Trade Association.
|
 |
|
A Chinese clerk puts gold ornaments in a display at a jewelry store of Laofengxiang in Shanghai on March 24, 2013.[Photo/IC] |
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: 130349 
