China fines Urumqi property association for organizing price fixing
( November 9, 2026, 08:10 GMT | Official Statement) -- MLex Summary: China’s Xinjiang market regulator has fined the Urumqi Real Estate Industry Association 300,000 yuan ($45,000) for organizing price fixing among property appraisal companies, according to a decision published by the State Administration for Market Regulation on Monday. The association organized member companies to fix fees for property valuations conducted for banking institutions in Urumqi City and pressured them to comply. The Xinjiang Administration for Market Regulation, which opened its investigation in April 2024, found that the conduct violated China’s Antimonopoly Law. The Xinjiang regulator ordered the association to stop the infringement and cited its cooperation and voluntary provision of evidence as grounds for leniency.Statements follow. The penalty decision is attached (in Chinese)....
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