The official Xinhua news agency reported that China would intensify its probe into rampant bribery in the pharmaceutical and medical services industry. The new three month investigation slate was set to begin on Thursday.
According to the Xinhua report, the State Administration for Industry and Commerce (SAIC) eould conduct the intensified investigation. SAIC, the regulator in charge for market supervision aims to stamp out bribery in the pharmaceutical and medical services sectors. The former is also driven to eliminate anti-competitive practices and fraud in other industries.
The probe was after the police and the National Development and Reform Commission (NDRC) probed multiple investigations regarding how foreign and domestic businesses are conducted in China, the world's second largest economy.
The focus of the probe was mostly on item pricing from milk formula to medicine. It also included investigation of companies suspected to be violating the 2008 anti-monopoly act of China. SAIC would hand down severe punishment for companies found guilty of bribery especially during bidding processes for medical services and drugs.
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