Consumer Council Slams Supermarket's Price Freeze
"); jQuery("#212 h3").html("

"); });
2020-09-28 HKT 13:02
The Consumer Council has criticised Wellcome supermarket’s offer to freeze the price of 300 products, saying the offer lacked transparency and that many of the products were hard to find.
The watchdog’s chief executive Gilly Wong told an RTHK radio programme that during a quick search of the some of the supermarket chain's stores over the weekend, its investigators were only able to find 100 of those products.
She said that of the products that investigators did find, only three were not under Wellcome's own brand.
Wong said that it was easier for supermarkets to control the costs of their own brands, and said supermarkets should freeze the price of products that are the most popular and expensive – such as infant formulas and rice – so that it benefits more people.
Two major supermarket chains, ParknShop and Wellcome, are required to pass on to consumers some of the government's anti-epidemic funding they've received. But both have been accused of not going far enough to help those in need.
China To Inject US$44 Billion Into State Banks To Boost Tech And Curb Risks
China said it will inject 300 billion yuan (US$44 billion) into state-owned banks this year to guard against systemic r... Read more
Hong Kong Regulators Expand GenAI Sandbox To Insurance, Securities And MPF Sectors
The Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), Insurance Authority (IA), and Mandato... Read more
South Korea To Cap Crypto Exchange Ownership At 20%
South Korean regulators and lawmakers have agreed to cap major shareholder stakes in cryptocurrency exchanges at 20%, d... Read more
DBS Hong Kong Partners With Know Your Customer To Automate SME Onboarding
Know Your Customer Limited, a provider of automated business verification solutions, has partnered with DBS Hong Kong t... Read more
Hong Kong Banks Extend Loan Repayment Relief For Tai Po Fire Victims
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) have met to discuss additional su... Read more
Hong Kong And Macao Deepen Financial Cooperation With Updated Agreement
The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) held a meeting on March 3 to strengt... Read more
