China: The Anti-Monopoly Bureau of the State Administration for Market Regulation has fined eight cement companies US$35m for price fixing. Caixin reports that seven companies in Shandong province formed Zibo United Cement Enterprise Management in 2017 to manage their arrangement through invoicing, sales, setting prices and coordinating operating regions. The extent of the anti-competitive behaviour between the companies extended to organising a price management committee to manage the arrangement by monitoring sales and even fining members in breach of its self-declared rules. As well as Zibo United, the other companies in the cartel were Shandong Baoshan Technology, Shandong Donghua Cement, Shandong Shanlü Environmental New Material, Zibo Luzhong Cement, Shandong Chongzheng Special Cement, Zibo Shanshui Cement and Linqu Shanshui Cement.
Chinese Anti-Monopoly Bureau fines Shandong cement cartel US$35m
Written by Global Cement staff
Published in
Global Cement News
Tagged under
- China
- Government
- Competition
- Fine
- Shandong
- GCW493
- Antimonopoly Bureau
- State Administration for Market Regulation
- Zibo United
- Shandong Baoshan Technology
- Shandong Donghua Cement
- Shandong Shanlü Environmental New Material
- Zibo Luzhong Cement
- Shandong Chongzheng Special Cement
- Zibo Shanshui Cement
- Linqu Shanshui Cement
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