China Fines Wal-Mart, Carrefour for Misleading Prices
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China’s top economic planner ordered Wal-Mart Stores Inc. and Carrefour SA to be fined for misleading pricing at some of their stores in the nation, as the government works to rein in rising prices for consumer goods.
Authorities in cities including Shanghai, Chongqing, and Kunming discovered incidents at local Wal-Mart and Carrefour outlets that included labeling on products with prices that didn’t match what shoppers were charged at payment, exaggeration of discounts and labeling that led to confusion about how much a product cost. The stores may be fined five times the revenue they earned using such methods, the National Development and Reform Commission said today on its website.