Related News
Carrefour, Wal-Mart face hefty fine for fraud
By Jin Jing |
January 26, 2011, Wednesday
|
Online Edition
Online Edition
GLOBAL chain retailer Carrefour as well as Wal-Mart are among vendors in China who may face a maximum fine of 500,000 yuan (US$75,188) for alleged price frauds, China's top economic planner said today.
The National Development and Reform Commission said investigations had found some Carrefour and Wal-Mart outlets in China fabricated original prices of goods on sale and lured customers into buying falsely discounted products.
The two retail giants are also accused for using misleading price tags and failing to comply with their pricing commitments, according to a statement on the commission's website today.
Their cheating practices were discovered during a pricing scrutiny in China's major cities after authorities received consumer complains.
Price frauds were found in Carrefour and Wal-Mart's stores in Changchun, Shanghai, Shenyang and Kunming, covering a wide range of products from garments to home appliances and food.
The commission has asked its local departments to confiscate all the illegal income and fine the stores five times of their illegal revenue to a maximum penalty of 5 million yuan (US$751,880).
The National Development and Reform Commission said investigations had found some Carrefour and Wal-Mart outlets in China fabricated original prices of goods on sale and lured customers into buying falsely discounted products.
The two retail giants are also accused for using misleading price tags and failing to comply with their pricing commitments, according to a statement on the commission's website today.
Their cheating practices were discovered during a pricing scrutiny in China's major cities after authorities received consumer complains.
Price frauds were found in Carrefour and Wal-Mart's stores in Changchun, Shanghai, Shenyang and Kunming, covering a wide range of products from garments to home appliances and food.
The commission has asked its local departments to confiscate all the illegal income and fine the stores five times of their illegal revenue to a maximum penalty of 5 million yuan (US$751,880).
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
