Top 10 events between Shanghai and Beijing auto shows

Updated: 2016-05-11 06:54


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Anti-monopoly guideline to clamp down on industry

Top 10 events between Shanghai and Beijing auto shows

An employee works in South Korean tire producer Hankook's plant in Jiaxing city in Zhejiang province, on Jan 27, 2014. [Yan Zhi / For China Daily]

An anti-monopoly guideline for China's auto industry, the first of its kind for a single sector, is expected soon. The National Development and Reform Commission, which sought public opinion on a draft of the guideline from March 23 to April 12, aims to cover auto sales practices, after-sales services and the supply of spare parts to online car sales sites and the maintenance of parallel imported cars.

As a result, carmakers and dealers in China will face stricter rules. Over the last two years, carmakers, spare parts suppliers and dealers have been fined a total of 2 billion yuan ($307.8 million) by regulators because of monopolistic practices. The latest penalty was handed down on South Korean tire producer Hankook, which was fined by Shanghai pricing authorities for 2.18 million yuan earlier this month for manipulating prices.