China probes into chemical fertilizer companies over price gouging

A farmer fertilizes the farmland at Shapo vegetable base in Haikou, south China's Hainan Province, Oct. 30, 2020. (Xinhua/Pu Xiaoxu)

BEIJING, Aug. 4 (Xinhua) -- China's top market watchdog has launched an investigation against chemical fertilizer producers and distributors over suspicions of price gouging to address issues including price hyping in the market.

China's State Administration for Market Regulation said it will continue to monitor market price order of chemical fertilizers, further strengthen supervision and law enforcement, and punish illegal acts such as hoarding, price hyping and price collusion.