1. Summary On 4 January 2013, China's National Development and Reform Commission ("NDRC") announced that it had imposed fines and penalties totalling RMB 353 million ( USD 56 million) on six liquid crystal display ("LCD") panel manufacturers for colluding to manipulate the price of LCD panels in China between 2001 and 2006. The NDRC's decision and Q&A have now been released on its website. This is the first time NDRC has investigated an international cartel (where the behaviour involved took place primarily outside China) following investigations in the United States and Europe. Although the financial sanctions imposed by NDRC are significantly lower than those imposed by the competition authorities in other jurisdictions, the case has set a record for antitrust penalties in
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