China will impose fines on lenses and glasses makers for price monopolies after a long investigation. The National Development and Reform Commission ruled that several producers set minimum prices for the lenses and glasses they sold to dealers.
Some of the manufacturers accused of wrongdoing include Essilor, Nikon, TAG Heuer, Johnson and Johnson, and Bausch and Lomb. Officials say the companies violated dealers' rights to independent pricing and hurt consumers by keeping prices artificially high. The companies have been ordered to pay 19 million yuan in compensation.