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General Motors is under investigation by China's National Development and Reform Commission over possible antitrust violations. News of this first broke in an interview with Zhang Handong, director of the National Development and Reform Commission's price supervision bureau done by Chinese Newspaper China Daily. Handong said an American automaker would be penalized for monopolistic behavior. He did not mention said automaker. Bloomberg was able to learn from sources that the automaker in question is General Motors. The accusation is that GM told distributors in China to fix prices in an effort to improve sales. It should be noted that many of the penalties handed down by the bureau have been to mostly foreign companies. This has led many to accuse the bureau of being protectionist of companies in China, something the bureau has denied time and time again. Also, this comes days after President-elect Donald Trump made comments questioning the U.S. policy of not recognizing Taiwan. Source: China Daily, Bloomberg, Reuters View full article -
Rumorpile: GM China Venture Is Under An Anti-Trust Investigation
William Maley posted an article in General Motors
General Motors is under investigation by China's National Development and Reform Commission over possible antitrust violations. News of this first broke in an interview with Zhang Handong, director of the National Development and Reform Commission's price supervision bureau done by Chinese Newspaper China Daily. Handong said an American automaker would be penalized for monopolistic behavior. He did not mention said automaker. Bloomberg was able to learn from sources that the automaker in question is General Motors. The accusation is that GM told distributors in China to fix prices in an effort to improve sales. It should be noted that many of the penalties handed down by the bureau have been to mostly foreign companies. This has led many to accuse the bureau of being protectionist of companies in China, something the bureau has denied time and time again. Also, this comes days after President-elect Donald Trump made comments questioning the U.S. policy of not recognizing Taiwan. Source: China Daily, Bloomberg, Reuters
