Govt to fine Audi $41 million

China will fine German premium auto brand Audi around 250 million yuan ($40.63 million) for violating the Anti-Monopoly Law, the 21st Century Business Herald reported on Thursday.

The fine to be imposed on Audi is calculated based on a percentage of its 2013 car sales in Central China's Hubei Province, the newspaper reported.

Under the Anti-Monopoly Law, the National Development and Reform Commission (NDRC) can impose fines of between 1 and 10 percent of a company's revenues from the previous year.