NDRC fines Unilever for price rise talk

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联合利华扬言涨价遭发改委罚款 NDRC fines Unilever for price rise talk
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The National Development and Reform Commission (NDRC) last month imposed a fine on Unilever, an Anglo-Dutch consumer products group, for publicly warning that it might increase its prices.

Unilever was an early entrant into China’s consumer products market, and sells a wide range of products including Lipton tea, Pond’s cosmetic products, Lux soap and Zhonghua toothpaste.

The company had cited high raw material prices as a reason for its warning. However, the NDRC said Unilever had “intensified inflationary expectations among consumers” and “seriously disrupted market order”, and fined it RMB2 million (US$300,000) under the PRC Price Law and the related Administrative Penalties for Illegal Pricing Provisions.

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