253: Chapter 253 Antitrust Investigation

“Agreed.”

“Agreed.”

“Alright, then it's settled. Councilman Chen from the Finance Department and Councilor Pang from the Legal Department will be responsible for the anti-monopoly investigation. Come up with a charter as soon as possible,” Baili Ji decided.

“Understood.”

“Understood.”

Three days later, on August 10, 2055, a joint investigation team, led by the Finance Department and collaborating with multiple departments, arrived in Binjiang to conduct a survey into the Huatong Chamber of Commerce's potential involvement in a monopoly.

“An anti-monopoly investigation? How many people came?” Oriental Chen asked after hearing Niu Xingwang’s report.

“15 people,” Niu Xingwang replied.

“It’s fine, let them investigate. Our accounts are all independently audited; they won’t find any problems,” Oriental Chen said.

“But we can’t explain our source of goods,” Niu Xingwang said.

“For all business not relevant to you, just say it’s a single-line contact. For the pick-up locations, you can designate one or two safe houses and tell them your goods are all brought out from those safe houses. As for where the goods in the safe houses come from, just insist you don’t know anything,” Oriental Chen said.

“Understood,” Niu Xingwang nodded.

“Hmm, no need to worry too much. Our business is unique in all of China, so calling it a monopoly isn’t an exaggeration. As for the profit margin, I’ve kept it within 10% on the books, and so far, from the financial statements, the Huatong Chamber of Commerce is still in a state of severe loss, so there won’t be any major issues. The only result might be a fine. When that happens, you can negotiate with them and use supplies to cover it. Just consider it spending some money to acquire a school-running qualification,” Oriental Chen said.

“Isn’t our handling of this too gentle? I say these people are deliberately looking for trouble. What year is it now? How many enterprises are still operating? What's there to investigate? With that effort, it's better to find a way to solve the Citizens’ livelihood problems,” Niu Xingwang said indignantly.

“Our Chamber of Commerce’s business has just started, and its popularity and influence in the Settlements are still insufficient. It’s not advisable to create new problems at this time,” Oriental Chen said.

“Indulging them like this easily makes them feel that we are easy to manipulate. If they get a taste of success and do this repeatedly, won’t we become their ATM?” Niu Xingwang said.

“It doesn’t matter, we have technology, which is our core competitiveness. As long as we raise the price slightly, what goes out will quickly come back. How about this, you notify the Chamber of Commerce branches in each Settlement in a while, and reduce the crystals recycling price to half of the original,” Oriental Chen said.

That is to say, the original recycling price of one crystals was 100 points, and now the recycling price is 50 points. This means that a product worth 100 points, which originally corresponded to the value of 1 crystals, after the price adjustment, now corresponds to the value of 2 crystalss.

Doing this is equivalent to doubling the price of goods for sale.

“This is also good,” Niu Xingwang nodded.

Only the Huatong Chamber of Commerce collects crystalss.

Moreover, crystalss currently act as the standard currency in the economic activities of various Settlements. Therefore, fluctuations in the price of crystalss have a direct impact on the entire economic operation.

This move by the Council was not actually taking money from the Chamber of Commerce, but rather taking money from the entire market through the Chamber of Commerce.

Oriental Chen was indifferent to this point, as long as his own profits could be guaranteed.

As for whether the Citizens’ living standards were affected, and to what extent, that was something for the Council to consider, and irrelevant to him.

The investigation team conducted a continuous 3-day investigation at the Chamber of Commerce, reviewing all historical accounts.

Finally, it was, without surprise, determined to have violated the “Anti-Monopoly Law” and was fined 10 million crystalss.

Niu Xingwang stated that the Chamber of Commerce had been operating at a loss and was unable to pay such a large amount of crystalss.

The investigation team also did not want to push too hard; pushing too hard might scare away this hen that lays golden eggs. So, they proposed an installment payment plan, allowing the Chamber of Commerce to complete the payment of these crystalss in 12 installments, but with additional interest.

Niu Xingwang agreed to this plan.

…

“What did you say? The price of crystalss has dropped by 50%?” Yan Zhengping’s eyes widened when he heard the news from Yan Fangfang.

Currently, Yan Zhengping is the largest producer of crystalss, so the price of crystalss is most sensitive to him.

“What is Xiao Chen doing? Isn’t this price gouging?” Yan Zhengping was both shocked and helpless.

After all, the value of crystalss was entirely up to Oriental Chen.

“He said that the Council launched an anti-monopoly investigation against the Huatong Chamber of Commerce and imposed a fine of 10 million crystalss, and he was forced to do so,” Yan Fangfang explained.

“Anti-monopoly investigation? Why don’t I know about this?” Yan Zhengping said in disbelief.

He thought to himself, this isn't fining the Huatong Chamber of Commerce at all; it's clearly fining him!

Yan Fangfang spread her hands, indicating she also didn't know.

Yan Zhengping took out his phone and called Baili Ji directly.

“Baili Ji, let me ask you, has the Council launched an anti-monopoly investigation against the Huatong Chamber of Commerce?” Yan Zhengping went straight to the point.

“That’s right, Old Yan, this was a joint proposal from several Councilmen,” Baili Ji said.