Wal-Mart China cracks down on tainted food

Wal-Mart China (WMT.NYSE) announced on Tuesday that it will increase its food safety spending and implement stiffer supplier management regulations in an effort to combat rampant food safety concerns, Reuters reported. The retailer said it will increase its projected food safety spending to RMB300 million (US$48.32 million) for 2013, 2014 and 2015, up from a previously-announced RMB100 million for the same period. Wal-Mart’s reputation for food safety in China came under attack earlier this year after its “Five Spice” donkey meat was found to contain fox meat.