December 14, 2016 / 12:14 AM / a year ago

China to penalise US automaker for monopolistic behaviour - China Daily

SHANGHAI, Dec 14 (Reuters) - China will soon slap a penalty on an un-named U.S. automaker for monopolistic behaviour, the official China Daily newspaper reported on Wednesday, quoting a senior state planning official.

Investigators found the U.S. company had instructed distributors to fix prices starting in 2014, Zhang Handong, director of the National Development and Reform Commission’s price supervision bureau, was quoted as saying.

News of the penalty comes at a time of uncertainty for China-U.S. relations after the election of Donald Trump as the next U.S. president. Zhang was quoted as saying no one should “read anything improper” into the timing or target of the penalty. (Reporting by John Ruwitch; Editing by Lincoln Feast)

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