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China fines Ford nearly $24 million for anti-monopoly violations

Ford dealership in Chongqing, China

China has fined U.S.-based Ford Motor Co.'s Chinese joint venture $23.5 million for violating anti-monopoly laws, Reuters reported. China's State Administration for Market Regulation said that Changan Ford Automobile Co. Ltd. had set a minimum resale price for its cars in the municipality of Chongqing since 2013, depriving dealers of their pricing autonomy and restricting competition.

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