Price-fixing cartels: China crackdown continues
Major new enforcement action in the People’s Republic of China shows both the continuing crackdown on price-fixing cartels and an increased level of awareness about the prohibitions. Members of a cartel based in Guangdong, a coastal province near Hong Kong and Macao, have been fined more than RMB750,000 (US$120,000) in the latest action by the National Development and Reform Commission.
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In a speech delivered at the College of Europe in Bruges on 14 January 2013, Joaquín Almunia, Vice-President of the European Commission, and Commissioner responsible for Competition, stated that the Commission hopes to settle around half of its outstanding cartel investigations in 2013, using the settlement procedure instituted in July 2008.
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