China Fines General Motors $29 Million For Price Fixing

China fined General Motors' (GM) Chinese joint venture $29 million for monopolistic price fixing, state TV reported Friday, following reports that China would crack down on an unnamed U.S. automaker.

Shanghai's pricing regulator will impose the fine on GM's JV with local partner SAIC for allegedly setting minimum prices on certain Cadillac, Chevrolet and Buick models.

"GM fully respects local laws and regulations wherever we operate. We will provide full support to our joint venture in...

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