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China Regulator Smashes Cement Price-Fixing Cartel


China Regulator Smashes Cement Price-Fixing Cartel
A 22-month investigation by a provincial market supervision administration unearthed a meticulously implemented cartel scheme in which seven local cement firms banded together to coordinate pricing. Photo: IC Photo
Market regulators have taken a sledgehammer to a sophisticated cement industry price-fixing scheme in East China’s Shandong province, fining eight companies a record 228 million yuan (35.4 million) for violating the Anti-Monopoly Law.
A 22-month investigation by the provincial market supervision administration unearthed a meticulously implemented cartel scheme in which seven local cement firms banded together to coordinate pricing, monitor all of their inputs and output, and even punish any of their number that erred. ....

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