China fines Ford's Changan JV $24 million for violating anti-monopoly laws
CGTN
["china"]
China's State Administration for Market Regulation on Wednesday said it was imposing a 162.8-million-yuan (23.55 million U.S. dollars) fine on Ford Motor Co's joint venture with Changan Automobile Group for violating anti-monopoly law. 
China's market regulator said that the joint venture had been setting a minimum resale price for its cars, which deprived dealers of pricing autonomy, in the municipality of Chongqing. 
Photo from State Administration for Market Regulation 

Photo from State Administration for Market Regulation 

The fine is equivalent to four percent of the joint venture's sales in Chongqing last year, it said.
(With input from Reuters)