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China will fine Audi about 250 million yuan ($40 million) for violating anti-monopoly laws, the 21st Century Business Herald, an influential business daily, reported on Thursday.

Citing an unidentified source that the paper described as authoritative, the fine to be imposed on the Volkswagen Group subsidiary is calculated based on a percentage of its 2013 car sales in the central province of Hubei.

Under the 6-year-old anti-monopoly law, the National Development and Reform Commission (NDRC), China's anti-trust regulator, can impose fines of between 1 percent and 10 percent of a company's revenues for the previous year.



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China Fines Audi $40 Million For Violating Anti-Monopoly laws

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