China tickets Japanese firms with biggest anti-monopoly fine  

中国开出反垄断最大罚单 12家日企被罚12.35亿元

中国国家发展和改革委员会20日披露，该机构已对日本住友等八家零部件企业价格垄断行为处罚8.3196亿元(人民币，下同)，对日本精工等四家轴承企业价格垄断行为依法处罚4.0344亿元，合计罚款12.354亿元。这是中国反垄断调查以来开出的最高金额罚单。[查看全文]

Beijing (ECNS) -- China has decided to fine twelve Japanese companies a total of 1.2354 billion yuan ($201 million) over price monopoly, the National Development and Reform Commission (NDRC) said on Wednesday.

It's the biggest fine that China has imposed on companies under the anti-monopoly law.

Eight auto parts firms, including Hitachi, Denso, Aisan, Mitsubishi Electric, Mitsuba, Yazaki, Furukawa and Sumitomo were fined 831.96 million yuan ($134.78 million) in total, while bearing makers Nachi, NSK, JTEKT and NTN were fined 403.44 million yuan ($65.36 million).

The NDRC said these firms had reached price monopoly agreements and applied them in China, which violated the country's anti-monopoly laws and damaged domestic manufacturing as well as consumer interests.

Hitachi and Nachi were exempted from penalty for voluntarily reporting on the price monopoly agreements on auto parts and bearings respectively, according to the NDRC.

China has been conducting anti-monopoly probes into several industries, particularly the auto field, during the past month. German premium auto brand Audi was fined 250 million yuan ($40.63 million) for violating the anti-monopoly law, while BMW dealers in Hubei province were fined 1.6 million yuan ($260,000) for manipulating market prices.