China's cabinet has tightened rules to crack down on price manipulation and other violations, the official Xinhua news agency said on Friday. Under the revised rules announced by the State Council, firms and individuals found manipulating prices would be fined up to five times their "illegal incomes", the Xinhua said.
The authorities would lift the ceiling on such fines to 5 million yuan ($752,000) and even revoke business licences of serious violators of the price regulations.