Aug. 14 (Bloomberg) -- A China Automobile Dealers Association official said he isn’t aware of any special investigation into pricing practices in the car industry, contradicting an earlier report that a probe was under way.
“As far as I know, NDRC monitors pricing for various industries as part of its normal responsibilities and there has been no specific anti-monopoly investigation targeting the auto industry,” Luo Lei, deputy secretary-general of the industry group, said in a phone interview today, referring to the National Development and Reform Commission, China’s top economy planning agency.
The dealers association routinely collects data on vehicle pricing and supplied the findings to the NDRC, Luo said.
Reuters reported yesterday, citing Luo, that the NDRC was investigating whether carmakers were setting a minimum retail price for dealers in China and that the dealers association was collecting data for the probe.
SAIC Motor Corp. rose 1.7 percent to 13.9 yuan in Shanghai today, compared with the 0.3 percent drop in the benchmark Shanghai Composite Index.
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