Economy

NDRC exposes cases of fraudulent pricing

(Xinhua)
Updated: 2011-04-28 16:58

China's top price regulator urged business trading companies nationwide to examine and redress fraudulent pricing behaviors while making public several companies involved in such wrongdoing on Thursday.

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The companies listed were involved in such misdemeanors as creating fictional original prices in sales promotions or cheating by not upholding conditional preference prices, said the National Development and Reform Commission (NDRC), China's top economic planner and price regulator.

The listed companies are located in the cities of Beijing, Shanghai, Tianjin, Nanjing, Shenyang, Harbin and Taiyuan.

The NDRC urged local authorities to impose fines of no more than 500,000 yuan ($76,809) on the companies, according to a statement on the NDRC website.