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Communist Party of China CPC>>News
08:23, November 18, 2010

Chinese government announces guidelines to tame price rises

An employee puts bags of sugar on to shelves at a supermarket in Beijing. The price of the commodity has doubled in China since the beginning of the year. (Photo: China Daily)

China's State Council Wednesday announced price control guidelines to reassure consumers facing rising inflation and urged local authorities to offer temporary subsidies to needy families.

Efforts would be made to ensure market supplies, improve subsidy systems, make price controls more targeted and strengthen market supervision, said a statement released Wednesday after a State Council, or Cabinet, executive meeting presided over by Premier Wen Jiabao.

The statement said the government would further support agricultural production to maintain steady growth of agricultural output and put state reserves of grains, edible oils and sugar on the market when necessary in order to guarantee supplies.

The authorities should keep a close eye on winter vegetable production to increase supplies through the winter, take measures to cut delivery costs of agricultural products, and increase cotton transportation from Xinjiang Uygur Autonomous Region.

They should also continue to reduce prices of power, gas and rail transport for chemical fertilizer producers, ensure coal supplies for power generation companies and increase production of oil, especially diesel oil, to guarantee a sufficient supply.

Government departments and local governments should offer temporary price subsidies for the needy, and increase allowances for needy students and student canteens. Social welfare benefits should be aligned with price levels and basic standards of social welfare should be gradually raised.

The authorities should adjust prices promptly and moderately, keep natural gas prices stable and impose temporary price controls on important daily necessities and production materials when necessary.

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