China’s Antitrust Authority Imposes Fines on Foreign Corporations for the First Time

By on January 7, 2013

by Henry L.T. Chen, Frank Schoneveld, Jared Nelson and Sean Pan

Recently China’s National Development and Reform Commission (NDRC) imposed an RMB 353 million (USD 56.7 million) penalty against an international price-fixing cartel of LCD manufacturers, the largest the NDRC has ever imposed for antitrust infringement.  The penalty is China’s first enforcement action against an international cartel and sends a strong signal to multinational corporations operating in China that enforcement actions against cartels will not be limited to Chinese entities.

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