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Investigators take note of price-cut proposals
By Ding Yining |
July 4, 2013, Thursday
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Online Edition
Online Edition
CHINA'S top economic planner has "taken notice" of price cuts proposed by two foreign milk powder makers being investigated for price-fixing, according to CCTV News.
Dumex said today: "The detailed price reduce proposal will be disclosed later."
Wyeth Nutrition said yesterday it will cut the price of key products by an average of 11 percent with the biggest price drop being 20 percent. Another maker, Abbott, said it was aware of the inquiry and cooperating with the NDRC.
Nestle, which is Wyeth's parent company but has its own brand of baby nutrition products, said it wasn't a part of the investigation by the National Development and Reform Commission's anti-monopoly division.
Dumex said today: "The detailed price reduce proposal will be disclosed later."
Wyeth Nutrition said yesterday it will cut the price of key products by an average of 11 percent with the biggest price drop being 20 percent. Another maker, Abbott, said it was aware of the inquiry and cooperating with the NDRC.
Nestle, which is Wyeth's parent company but has its own brand of baby nutrition products, said it wasn't a part of the investigation by the National Development and Reform Commission's anti-monopoly division.
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