Dairy firms hit with fines

China meted out its biggest fine for price fixing on Wednesday, the latest effort by authorities to provide a level playing field for industries.

The National Development and Reform Commission, a top economic regulator, has levied fines of nearly 670 million yuan ($108 million) against six milk powder companies accused of price fixing and anti-competitive practices.

The six companies are Mead Johnson, Dumex, Abbott, Friesland, Fonterra and Biostime, according to a statement by the commission.