controlled foreign MNCs.
Unilever China fines for suggesting an increase in prices of their products EFE 07/05/2011 Beijing, May 7 (EFE) .- China fined the multinational cosmetics Anglo-Dutch Unilever with two million yuan (215,204 euros, 308,000 U.S. dollars) for suggesting an increase in prices of their products which "disturbed the market order," local media reported Wednesday.
According to the National Development and Reform (NDRC), the top Chinese planning body, Unilever warned of increased prices at supermarkets and gave interviews to media to discuss the alleged rise, causing their prices multiply products up to 10 stores.
The committee could be fined up to three million yuan to Unilever, but reduced the punishment for their cooperation, picked up the newspaper "South China Morning Post.
The company posted a statement on its website in which he stated that "as a multinational company with a long-term commitment to China, we fully understand the local environment and respect the decision."
The Chinese government has months trying to contain inflation, which last March at 5.4 percent, reached its highest level in 32 months.
On 13 April the European Commission (EC) also fined Unilever and Procter & Gamble with 315.2 million euros for Henkel pact with an agreement to stabilize its position in the market and coordinate prices, contrary to antitrust rules the European Union. EFE Securities
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