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China's fines from 'fairer' calculations
http://www.ecns.cn/business/2013/01-06/43923.shtml
Jan 6th 2013, 07:56
2013-01-06 16:56 CNTV Web Editor: yaolan
comment
China, the world's largest home-appliance market, has fined the six-companies around 56 million US dollars for operating cartel activities. But in comparison, as we've just heard from the story, the European Commission fined the group around 850 million US dollars, 15 times more than China did.
So where does this difference come from? Experts say advanced economies such as the EU and US are caculating the penalties based on GLOBAL sales prices, instead of their own countries'.
Mei Xinyu, researcher of Mofcom Int'L Trade & Economic Co-Op., said, "More than 80 percent of sales are from developing countries for many western multi-national firms. So if they're found operating cartels, they should pay their fines primarily to those developing countries. But anti-trust laws in economies like the US and EU allows their authorities to levy fines that comes from, and should be paid, to other countries. And that's why I think China's standard, which are based only on sales volume in China, are fair and responsible."
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