China fines eyeglass makers for price manipulation

Chinese authorities said on Thursday that seven eyeglass and contact lens manufacturers have been fined more than 19 million yuan ($3.1 million) for price manipulation.

The companies include the four major frame eyeglass makers of Essilor, Nikon, Zeiss and Hoya, as well as Bausch+Lomb, Johnson &Johnson, and Weicon, major providers of contact lenses, the National Development and Reform Commission said in a statement.

Authorities had started investigations of eyeglass makers in August last year. Findings showed that some manufacturers had exerted price control on distributors and retailers, which violates anti-monopoly laws, the statement said.