China: GM claims reports of antitrust probe are wrong

General Motors’ unit in China has come out against reports that it is now under investigation by competition officials.

According to reports, Shanghai General Motor said Tuesday that “the news about Shanghai GM being investigated for monopolistic practices and is incorrect and is a misinterpretation of a statement we issued previously.” Reports emerged earlier this week that GM was contacted by the National Development and Reform Commission regarding its broader investigation into foreign auto companies, a controversial case that has caught global attention.

But according to Shanghai GM, its earlier statement about cooperating with the NDRC was merely a clarification of where the company stands with competition authorities in the country, adding that it prices its products at reasonable levels in the nation.

Full content: ECNS.com

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