Beingmate lowers prices

Shenzhen-listed Beingmate, one of China's biggest milk powder companies, plans to lower its product prices, with detailed information on the price changes and the schedule to be made public later, the company said in a statement posted on the stock exchange Wednesday.

The National Development and Reform Commission is conducting an anti-trust investigation into many leading milk powder export companies, including Beingmate.

The sudden reduction has led some to wonder whether the company was influenced by the investigation.