Companies

Wal-Mart apologizes to customers for price cheating

(Xinhua)
Updated: 2011-01-28 10:15

SHENZHEN -- Wal-Mart (China) late Thursday apologized to customers after being blacklisted by Chinese authorities for cheating on prices.

The Wal-Mart (China) Investment Co, Ltd expressed "sincere apology" to affected customers in a written interview with Xinhua.

Further, the company has been cooperating with authorities' investigation into the cheating. It has also launched self-examinations in stores nationwide.

Related readings:  Wal-Mart to invset in China B2C website  Carrefour apologizes for overcharging  China meets 2010's price control target: NDRC

As the Spring Festival approaches, the company will strengthen its price monitoring, the company said.

The company, which entered China in 1996 and has opened 189 stores in 101 cities across the country, promised to continue the self-examination regularly. Its 700 price inspectors perform millions of examinations weekly.

The National Development and Reform Commission (NDRC), China's top economic planner and price regulator, said Wednesday that some Carrefour and Wal-Mart stores in China are involved in deceptive pricing practices.

The NDRC ordered local pricing authorities to urge involved stores to correct wrongdoing, and pay fines five times the illegal income. Their ill-gotten money will be confiscated and those that cannot calculate their illegal income will pay a fine of up to 500,000 yuan ($75,987).