China Fines Milk Powder Companies For Price-Fixing

China fined six infant milk powder companies, including Mead Johnson Nutrition CO (NYSE:MJN) and Biostime International Holdings Limited (HKG:1112) (OTCMKTS:BTSDF), for their alleged price fixing and anti-competitive practices. According to the state-run news agency, Xinhua, this marks the largest fine China has ever imposed for violating anti-monopoly law. Antitrust probe by NDRC The Chinese government’s fine is a fallout of a four-month antitrust probe by the National Development and Reform Commission. The commission has also initiated separate investigations into 60 foreign and local pharmaceutical firms besides companies involved in gold trading. These investigations are yet to be concluded. Biostime got…