China fines auto chip sales companies for pushing up prices

0

BEIJING — China’s market regulator said on Friday that it fined three auto chip sales companies for driving up prices, in a move to help auto production in the world’s biggest vehicle market.

The State Administration for Market Regulations said on its website that it fined three local companies a total of 2.5 million yuan ($388,300). The companies are Shanghai Chengsheng Industrial Co., Shanghai Cheter and Shenzhen Yuchang Technologies.

The regulator said it would continue to closely monitor the price in chip industry and crackdown on illegal market behaviors to maintain market order.

A prolonged global chip shortage has affected major automakers, including Toyota Motor Corp., Ford Motor Co., Honda Motor Co., General Motors and Volkswagen Group, forcing many to idle or curtail production.

FOLLOW US ON GOOGLE NEWS

 

Read original article here

Denial of responsibility! Samachar Central is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment