China’s market regulator levied a fine of 162.8 million yuan on automaker Changan Ford for violating anti-monopoly rules. 

(Photo: VCG)

The State Administration for Market Regulation (SAMR) announced on Wednesday a fine on Changan Ford Automobile Co. over price monopoly according to antitrust laws. Its acts damaged fair competition in the market and hurt consumers’ legitimate rights, SAMR said. 

China is stepping up its anti-monopoly enforcement, protection of fair competition in the market and promotion high-quality development, according to SAMR.