China to target oil firms, telecoms, auto makers, banks in anti-trust violations
BEIJING, Aug 25, 2013 (Xinhua via COMTEX) --
The National Development and Reform
Commission (NDRC), China's top economic planning body and price
regulator, could extend investigations into the country's petroleum,
telecommunications, automobile sectors, and banks for violations of
anti-trust laws, according to Xu Kunlin, anti-monopoly head from the
The official said on a talk show with China Central Television on
Sunday that banks, in particular, would be targeted if they fixed
deposit or loan rates once China liberalized interest rates.
The remarks came after the NDRC has launched pricing probes into
baby formula, jewelry, and pharmaceutical sectors, involving both
domestic and overseas companies, in the past several months.
Industries that had a direct impact on the lives of ordinary
Chinese people would be especially investigated in the future, Xu
Ma Yu, director of foreign investment research at the Chinese
Academy of International Trade and Economic Cooperation under the
Ministry of Commerce, said at the same television talk show that many
sectors in China that were faced with market access barriers overly
relied on government support policies and hence did not engage in
serious competitions in the industries.
Policies that encourage competitions were more important to China
than development support policies, Ma said. (Edited by Ding Lei,
[ Back To Technology News's Homepage ]