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China's anti-monopoly probe in auto sector continues

2014-08-18 15:19 Xinhuanet Web Editor: Qin Dexing

The Chinese government began an anti-monopoly investigation into more than 1,000 domestic and foreign auto sector companies not long ago.

The state-owned and private enterprises, and Chinese-foreign joint companies are equal in face of China's anti-monopoly law, the National Development and Reform Commission (NDRC) said.

The investigations target monopolistic practices in general and aim to promote fair competition and protect consumer interests.

"These moves were taken in accordance with the Anti-monopoly Law and are expected to clean up the auto market and safeguard the legal interests of Chinese consumers," the China Association of Automobile Manufacturers (CAAM) said in a statement.

Price regulator in central China's Hubei Province has meted out a combined anti-trust fine of 1.6 million yuan (about 260,000 U.S. dollars) to four BMW dealers, as it found the four manipulated market by forming a price alliance, the local government said on Thursday.

The NDRC confirmed earlier that the investigations also found monopolistic practices in Chrysler, Audi and 12 Japanese auto makers and said it would deal with the issue in time.

As the round of anti-monopoly investigations caught public attention, several luxury car brands have slashed prices in China.

Anti-monopoly investigations into Mercedes-Benz dealers in east Jiangsu Province and the company's Shanghai office are still underway.

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