Chinese liquor giants fined for price fixing
英语课
BEIJING, Feb. 23 (Xinhua) -- Chinese top two liquor makers 1 Kweichew Moutai and Wu Liangye were fined a total of 449 million yuan (71.41 million U.S dollars) for price fixing, according to local price regulators.
The Guizhou-based Moutai and Sichuan-based Wu Liangye were ordered to pay 247 and 202 million yuan in fines, respectively, according to statements from local price regulators on Friday.
It marked the harshest fines since the implementation 2 of China's antimonopoly laws in 2008.
The statements said that the companies had restricted the lowest prices on its liquor products for resale at their distributors, with whom they had made vertical 3 monopoly agreements.
The punishments have shown that the government makes no exception for any company when handling antitrust cases, as the two fined businesses are both state-owned, said Wang Xiaoye, a professor at Graduate School of Chinese Academy of Social Sciences.
But the fines were relatively 4 light, Wang said, citing that they only accounted for 1 percent of the total revenue the two companies recorded last year. The figure can reach as high as 10 percent according to Chinese antimonopoly laws.
The punishment added to the plight 5 of the two liquor giants, as a recent government frugality 6 campaign is expected to have a sizeable impact on sales of their products, which mainly target high-end consumers.
The penalties follow similar fines to Samsung, LG and four Taiwanese LED makers in January.
1 makers
n.制造者，制造商（maker的复数形式）
- The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
- The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》
3 vertical
adj.垂直的，顶点的，纵向的；n.垂直物，垂直的位置
- The northern side of the mountain is almost vertical.这座山的北坡几乎是垂直的。
- Vertical air motions are not measured by this system.垂直气流的运动不用这种系统来测量。
4 relatively
adv.比较...地，相对地
- The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
- The operation was relatively painless.手术相对来说不痛。
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