Top eyeglass manufacturers in China are reportedly cutting their prices by as much as 30 percent in the midst of an antitrust probe into the industry.
China’s National Development and Reform Commission first began investigating the market last August when it launched a wide-scale project to examine industries that earned what it considered were excessive profits. The project included the high-profile infant milk formula probe, which lead to $110 million in fines issued to top milk powder companies.
The case lead to concerns and allegations that Chinese regulators were unfairly targeting foreign companies.
This time, reports say the eyeglasses investigation similarly includes the examination of several international firms.
The companies that reportedly cut their prices did not confirm whether the cuts were related to the investigation or not.
Full content: Reuters
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