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| People's Republic of China Emblem (Photo credit: Wikipedia) |
"
China on Thursday fined several foreign eyewear makers more than 19 million yuan ($3.1 million) for 'price manipulation,' the government said, in the latest targeting of overseas firms in the giant market," according to
Yahoo! News Singapore. "The powerful
National Development and Reform Commission (NDRC), China's top economic planner, launched an investigation last August into alleged violations of anti-
monopoly law in the sector, the agency said in a statement. Five companies -- all foreign -- were given penalties ranging from 1.7 million yuan to 8.8 million yuan, it said. They included units of
France's Essilor,
Germany's Carl Zeiss, and
Japan's Nikon Optical, as well as
Bausch & Lomb and
Johnson & Johnson -- both of the
United States -- according to the statement." In other news stories, Meditec and Valeant Pharmaceuticals were also said to have been fined.
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