China to penalise US automaker for monopolistic behaviour: China Daily

SHANGHAI (REUTERS) - China will soon slap a penalty on an unnamed US automaker for monopolistic behaviour, the official China Daily newspaper reported on Wednesday (Dec 14), quoting a senior state planning official.

Investigators found the US company had instructed distributors to fix prices starting in 2014, Mr Zhang Handong, director of the National Development and Reform Commission's price supervision bureau, was quoted as saying.

News of the penalty comes at a time of uncertainty for China-US relations after the election of Mr Donald Trump as the next US president.

Mr Zhang was quoted as saying no one should "read anything improper" into the timing or target of the penalty.