China threatens heavier fines after milk powder probe
SHANGHAI (REUTERS) - China threatened heavier fines against companies breaking the law on Thursday, a day after six milk powder producers were hit with a total of S$140 million in penalties for price fixing and anti-competitive behaviour.
Mr Xu Kunlin, head of the pricing unit at the National Development and Reform Commission (NDRC), said the milk powder makers had deleted emails and told staff to avoid leaving a paper trail when discussing prices with retailers.
"(These actions) are a clear example of knowingly violating the law," Mr Xu said in an interview with the People's Daily newspaper, the mouthpiece of the ruling Communist Party.
"From now on, if we discover firms knowingly breaking the law, then fines will be increasingly severe."