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Home arrow News & Interviews arrow News October 2008 arrow Wal-Mart Sets Higher Standards, Citic Securities Cuts Wages
Wal-Mart Sets Higher Standards, Citic Securities Cuts Wages PDF Print E-mail
 

By Peter Bachmann, on 23-10-2008 06:01

Published in : The News, News October 2008

Wal-Mart Sets Higher Standards in China
U.S.-based Wal-Mart Stores said it will set up new quality standards for its thousands of suppliers in China, AP reports. Mike Duke, Vice Chairman of Wal-Mart's international division said the world's largest retailer expects greater transparency. Suppliers need to "tell us the name and location of every factory they use to make the products we sell," he was quoted. The new standards will be applied to apparel first.
Citic Securities Cuts Wages
China's largest brokerage firm, Citic Securites, announced pay cuts between five and 20 per cent starting from November, state media reports. Chairman Wang Dongming said the company did not plan to lay-off anyone but is "not optimistic" about the short and mid-term of China's stock markets.

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Keywords : Wal-Mart, Sourcing, Retail, Quality, Citic, Securities, Finance, Investment

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