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China fines 21 shipping firms for ‘unfair competition’ on Sino-Japan trade

China fines 21 shipping firms for ‘unfair competition’ on Sino-Japan trade
China has slammed a fine that totalled RMB4.25m ($684,500) on 21 shipping companies for violating market regulations on the Sino-Japan shipping trade route.

The ministry of transport announced that the companies fined were found to have offered lower-than-normal market prices to their customers, disrupting the average market rates.

Such practices by the 21 companies translated to unfair competition on the Sino-Japan shipping route between July to December 2014, the ministry added.

The government urged shipping lines, both domestic and international, to operate based on fair competition regulations in order to maintain a “sustainable and healthy growth” of the industry.

The 21 companies that were fined included some big names such as China Shipping Container Lines (CSCL), Evergreen Line, Wan Hai Lines, Sinotrans Container Lines, Yang Ming Marine Transport, Cheng Lie Navigation, Shanghai Haihua Shipping, and MCC Transport.