China has expressed monopoly concerns over Mercedees-Benz activities- exec
SHANGHAI, July 22
SHANGHAI, July 22 (Reuters) - China's price regulator has expressed monopoly concerns over Mercedes activities in the country but the firm is not under investigation, one of the company's top China executives said on Tuesday.
Nicholas Speeks, China sales head at Daimler AG's Mercedes-Benz, told reporters the firm was also currently cutting service charges and prices of its spare parts by 20 percent.
Bloomberg reported last week citing sources the National Development and Reform Commission was probing practices at Daimler AG's Mercedes-Benz as well as other foreign automakers to see whether prices of spare parts are being artificially boosted.
A senior NDRC official said in February that the monopolies regulator has been collecting evidence of possible anti-competitive behaviour in the country's auto parts market. (Reporting by Samuel Shen and Kazunori Takada; Writing by Brenda Goh)
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