Baijiu Makers Take 449 Mln Yuan Shot for Price-Fixing

(Beijing) – The government has fined two large makers of baijiu for price-fixing, a news website reports.

The National Development and Reform Commission (NDRC) fined Kweichow Moutai Co. Ltd. and Wuliangye Yibin Co. Ltd. a total of 449 million yuan, or 1 percent of the combined annual sales for 2012 of the two, cnr.cn reported on February 19.

The NDRC declined to comment on the matter when contacted by Caixin. The nation's top economic planner said the two companies would release detailed information later.