Earlier this year the PRC's National Development and Reform Commission (NDRC) fined six LCD panel suppliers a total of RMB353 million for price fixing that took place between 2001 and 2006. The fines were imposed under domestic pricing laws in force between 2001 and 2006 and exceeded the suppliers' illegal gain from the activities. China’s Anti-Monopoly Law which came into effect on 1 August 2008 empowers the NDRC to impose more severe penalties for similar behaviour committed today.
- Pricing Law - suppliers had colluded "with others in manipulating market prices and harming the lawful rights and interests of other business operators and consumers” thereby breaching Article 14(1) of the Pricing Law. Under Articles 40 and 41 of the Pricing Law, a fine up to five times the illegal gain may be imposed for the violation.
- Anti-Monopoly Law - If the same facts arose today, the activities would be caught under Article 13 of the Anti-Monopoly Law which prohibits competing businesses from entering into monopoly agreements including those for fixing or changing prices. Under Article 46 of the Anti-Monopoly Law, the NDRC can impose a fine between 1% and 10% of the turnover in the preceding year, which would be more severe.