China regulator to probe auto chip distributors over price-gouging suspicions

SHANGHAI: China’s regulatory agency is launching an investigation into chip distributors in the auto industry, citing suspicions of price gouging, it said on Tuesday.

The action by the State Administration For Market Regulation (SAMR) is the latest in a regulatory crackdown following a range of companies and industries targeted over the past year as the Chinese government clamps down on industry.

“In response to prominent problems such as speculation and high prices in the automotive chip market, the State Administration of Market Supervision has recently filed an investigation on car chip distributors,” the agency said.