China takes aim at prices of milk, medicine
World BusinessJul 6, 2013
China took aim this week at prices of two high-profile necessities -- first baby formula, then medicines -- as the country's communist leaders try to contain surging living costs that threaten to inflame political tensions.A probe into possible price-fixing by foreign milk suppliers prompted at least two companies -- Nestle SA and FrieslandCampina -- to announce a price cut.On Friday, news reports said a Cabinet agency is looking into the cost of drugs made by 60 foreign and domestic suppliers.