China fines 2 milk suppliers in price-fixing probe

Two suppliers of infant formula, Mead Johnson, and Hong Kong synbiotics says Chinese authorities imposed fines of millions of dollars, they are price-fixing probe.
Mead Johnson Nutrition Co. said Wednesday its China unit was fined 203.8 million yuan (about 3.3 billion U.S. dollars). Biostime International Holdings Ltd said its local arm was fined 162.9 million yuan ($ 26.3 million).
Chinese authorities said earlier that they were investigating possible price manipulation foreign milk suppliers raised the cost of Chinese consumers.
Suppliers, including Nestle SA FrieslandCampina NV, announced price cuts, has been investigated.

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