6 dairy enterprises received a fine of RMB 670 million for price monopoly

By | August 7, 2013

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6 dairy enterprises received a fine of RMB 670 million for price monopoly

National Development and Reform Commission announced on August 7, 3 dairy enterprises Mead Johnson Nutrition, Biostime and New Zealand diary giant Fonterra in relation to a probe into price-fixing and anti-competitive practices by foreign baby formula makers. The three will receive a total fine of up to 670 million yuan, the fine is the largest antitrust in history of China. Three other involved dairy firms, Wyeth, BeingMate and Meiji are exempted from punishment for their better cooperation with the investigation and proactive provision of important evidence.

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