China’s auto industry body removed expression about “abnormal prices” from Commitment Paper signed by carmakers

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The China Association of Automobile Manufacturers (CAAM) has removed the expression “not to disrupt the auto market order with abnormal prices” from the “Commitment Paper to Maintain Fair Market Order in the Automobile Industry” signed by major carmakers last week.

The expression about the price was inappropriate and contrary to the spirit of the Anti-monopoly Law, the association said in a statement

The statement came after automakers including SAIC Auto, GAC Group, GEELY Auto, BYD Company, Tesla, etc, last week signed a Commitment Paper, promising to maintain China’s auto market order and not to set “abnormal prices to disrupt market order” in an event organized by the CAAM.