China’s Jiangsu provincial authorities said they fined Mercedes-Benz CNY350m (US$56.5m) for business practices with its dealers in violation of China’s anti-monopoly laws.

The dealers involved were fined a combined CNY7.87m for their part in the violations which included price fixing for new cars and spare parts.

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Mercedes-Benz issued a written statement saying it fully accepts and respects the outcome of the investigation and will comply with the punishment immediately.

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