China has fined Daimler's Mercedes-Benz 350m yuan ($56.5m; £37.6m) for price-fixing as part of a broader clampdown on anti-monopolistic practices.

A pricing regulator in Jiangsu said the luxury German carmaker pressured local dealers into setting a minimum sales price on some of its car models.

Some of its local dealers were also fined 7.7m yuan, regulators said.

A Mercedes-Benz said it "accepts the decision and takes its responsibilities under competition law very seriously".

"We have taken all appropriate steps to ensure to fully comply with the law," a spokesperson told the Reuters news agency.

In a statement, the Chinese regulator said: "The investigation found Mercedes-Benz and its dealers in Jiangsu came to and carried out monopoly agreements to cap the lowest sales prices of E-Class, S-Class models and certain spare parts."

Last year, the Xinhua news agency reported that Mercedes had also been found guilty of manipulating the prices of after-sales services in China.

(BBC)