China probes foreign carmakers over prices

Chinese regulators have been collecting data on foreign cars sold in the country that could be used in a price-fixing probe since last year, Reuters reported, citing an industry official. Luo Lei, deputy secretary-general of the China Automobile Dealers Association, said the research is being conducted for the National Development and Reform Commission (NDRC). The commission is investigating whether carmakers are setting a minimum retail price for Chinese dealers, which could be in violation of China’s anti-monopoly law. Earlier this month the NDRC handed out record fines to foreign infant-formula makers for fixing prices.