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China Daily Website

Liquor makers pay record penalty

Updated: 2013-03-15 09:11
( China Daily)
China's biggest liquor makers, Kweichew Moutai and Wuliangye, have paid a record-high combined fine of 449 million yuan ($71.4 million) for price fixing. Payment was confirmed by Zhang Guangyuan, deputy director of the price supervision and anti-monopoly department of the National Development and Reform Commission. China National Radio reported the two distillers violated anti-trust laws by financially penalizing third-party distributors who sold their products at prices lower than those set by the companies.

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