Unilever has been handed a fine worth £200,000 by Chinese authorities for announcing imminent price rises.

The fmcg giant was accused of “seriously distorting market order” after it warned customers that the price of washing powder was set to rise.

China regulators claimed the warning had led to panic-buying.

In a statement the company said: “Unilever [last week] closed a case with the Shanghai Price Bureau. As a company with a long-term commitment to China, we continue to be sensitive to the local environment.”

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