1. Text: | Print|

      Chinese gold stores fined for price manipulation

      2013-08-13 07:37 Xinhua Web Editor: qindexing
      1

      Five Shanghai-based gold and jewelry stores and a local trade association have been fined a combined total of 10.59 million yuan (1.72 million U.S. dollars) for manipulating the prices of their jewelry, China's top economic planner said Monday.

      The five stores are Shanghai Laofengxiang Co., Ltd., Shanghai Laomiao Gold Co., Ltd., First Asia Jewelry, Chenghuang Jewelry and Tianbao Longfeng, according to the National Development and Reform Commission (NDRC).

      The NDRC said probes by local pricing authorities found that the five stores had manipulated the retail prices of their gold and platinum jewelry in accordance with a pricing scheme created in cooperation with the Shanghai Gold & Jewelry Trade Association.

      Their practices harmed the legitimate interests of other business operators and consumers, the commission said.

      According to China's anti-monopoly law, the trade association played a leading role in formulating and executing a monopoly agreement in this case and will receive a fine of 500,000 yuan, the maximum fine possible for this type of offense, the NDRC said.

      The stores were fined a combined total of 10.09 million yuan, or 1 percent of their 2012 revenues, as they voluntarily corrected their illegal practices before the probe and cooperated during the investigation, according to NDRC.

      The verdict marked the second anti-trust case revealed in the last week, as authorities have moved to clamp down on anti-competitive market conduct and clean up the country's business environment.

      On Wednesday, the NDRC announced fines totaling 670 million yuan for six foreign baby formula companies operating on the mainland following an anti-trust probe, the largest such fines ever imposed for anti-trust infringement in China.

      China's anti-monopoly law stipulates that fines for a company may range from 1 percent to 10 percent of its total revenues from the previous year.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲另类春色校园小说| 亚洲精品亚洲人成在线观看| 亚洲乱码在线观看| 黄色片在线免费观看| 久久亚洲国产最新网站| 最近最新中文字幕完整版免费高清 | 亚洲不卡AV影片在线播放| 久久亚洲AV成人无码国产电影| 精品国产精品久久一区免费式| 人人狠狠综合久久亚洲| 国产国产人免费视频成69大陆| 免费一区二区无码视频在线播放| 亚洲综合最新无码专区| a在线视频免费观看| 亚洲国产精品日韩在线| 成人毛片18女人毛片免费视频未| 亚洲国产午夜精品理论片在线播放 | 亚洲国产精品18久久久久久| 免费看国产一级特黄aa大片| jyzzjyzz国产免费观看| 亚洲av无码成人黄网站在线观看| 永久免费在线观看视频| 最新亚洲春色Av无码专区| 一级毛片直播亚洲| 久久久精品2019免费观看| 学生妹亚洲一区二区| 亚洲AV无码乱码在线观看性色扶| 中国黄色免费网站| 亚洲成人福利网站| 婷婷亚洲天堂影院| 麻豆高清免费国产一区| 天天综合亚洲色在线精品| 超清首页国产亚洲丝袜| 国产成人精品免费视频动漫| 在线观看亚洲专区| 久久久久亚洲AV成人无码网站| 青青视频观看免费99| 一级毛片完整版免费播放一区| 亚洲视频在线观看地址| 免费大黄网站在线观| 91免费在线播放|