China fines six companies for price fixing: Xinhua


China's economic planner hit six companies with a total of 670 million yuan ($109.5 million) in fines for price fixing, state media said on Wednesday.

Biostime, Mead Johnson, Dumex, Abbott, Friesland and Fonterra, were all fined by the National Development and Reform Commission (NDRC), the official Xinhua news agency said. It did not say what products the fines covered.

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Three companies -- Wyeth, Beingmate and Meiji -- were exempted from punishment for cooperating with the investigation, Xinhua said.

The fines coincide with separate pricing investigations into the pharmaceutical sector as well as gold trading.

($1 = 6.1217 Chinese yuan)

(Reporting by Michael Martina)