The largest fine ever imposed in China's anti-monopoly investigation
Update time：2016-11-28 16:10:03Number of clicks:1910timesThe shop name:T|T
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Chinanews.com Beijing, August 20 (Reporter Zhou Rui) China's National Development and Reform Commission (NDRC) announced on Monday that it has fined eight parts companies including Sumitomo of Japan 831.96 million yuan (RMB) and four bearing companies including Seiko of Japan 403.44 million yuan (RMB 1.235.4 billion) for price fixing. The fine is the largest ever imposed in China's anti-monopoly investigation.
The National Development and Reform Commission said it found that between January 2000 and February 2010, eight Japanese auto parts manufacturers -- Hitachi, Denso, Aizo, Mitsubishi Electric, Mitsuha, Yamazaki, Furugawa and Sumitomo -- held frequent bilateral or multilateral talks to negotiate prices in order to reduce competition and get parts orders from automakers at the most favorable prices. Order quotation agreement has been reached many times and implemented. Through price negotiation, 13 products related to the Chinese market include starters and alternators. The parts are used in more than 20 models from Honda, Toyota, Nissan, Suzuki, Ford and other brands.
From 2000 to June 2011, four bearing manufacturers, including Fujikoshi, Seiko, Jettiget and NTN, organized the Asian Research Association in Japan and held the export market meeting in Shanghai to discuss the policy, timing and range of bearing price increase in the Asian region and the Chinese market. And in accordance with this information, the implementation of the price behavior.
The NDRC pointed out that the above 12 enterprises are suspected of reaching and implementing price monopoly agreements on auto parts and bearings, which violated the provisions of China's Anti-monopoly Law, excluded and restricted market competition, unduly affected the prices of auto parts, complete vehicles and bearings in China, and harmed the legitimate rights and interests of downstream manufacturers and the interests of Chinese consumers.
In the case of auto parts price monopoly, the National Development and Reform Commission decided to exempt Hitachi from punishment for the first company that voluntarily reported relevant information of the monopoly agreement and provided important evidence. Denso, the second company that voluntarily reported the monopoly agreement, was fined 150.56 million yuan by 4% of the previous year's sales; Yamazaki, Furuga and Sumitomo, which negotiated only one product, were fined 6 percent of their sales in the previous year, or 241.08 million yuan, 34.56 million yuan and 290.4 million yuan, respectively. Aisan, Mitsubishi Electric and Mitsuha, which negotiated more than two products, were fined 8 percent of their sales last year, 29.76 million yuan, 44.88 million yuan and 40.72 million yuan, respectively.
In the case of bearing price monopoly, the National Development and Reform Commission decided that the first company to voluntarily report the relevant information of reaching a monopoly agreement and provide evidence shall be exempted from punishment; The second company, which voluntarily reported the relevant situation and submitted all the evidence and sales data related to the Chinese market, was fined 4% of the previous year's sales of 174.92 million yuan; NTN, which withdrew from the Asia Research Institute in September 2006 but continued to attend the conference on China's export market, was fined 119.6 million yuan at the standard of "6%". Jethaget was fined 109.36 million yuan, 8 percent of last year's sales, for proposing to hold an export market conference specifically for the Chinese market.
The NDRC called on the companies involved to immediately rectify their sales policies and practices in accordance with Chinese law, conduct anti-monopoly training for all company personnel, and take practical actions to eliminate the consequences of past violations, proactively maintain competition order and benefit consumers.
The National Development and Reform Commission (NDRC) said it would continue to investigate other illegal clues found during the investigation
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