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Rice trade body in China's Jiangsu province hit with fine for monopolistic conduct

( June 20, 2022, 09:33 GMT | Official Statement) -- MLex Summary: The Sheyang Rice Association has been fined 400,000 yuan ($59,800) by the Jiangsu provincial Administration for Market Regulation for forcing its member companies to implement a self-discipline pact in which they colluded on selling prices. The regulator said in its penalty decision dated May 27, 2022 that the trade body’s practice had restricted competition. The regulator opened an investigation into the case in December last year.The statement follows and the penalty decision is attached....

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