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NDRC: China Meets 2010's Price Control Target

25 January 2011

CHINA - China's top economic planner said Monday that price supervision and control measures have achieved steady progress with 2010's Consumer Price Index, slightly exceeding the target ceiling by 0.3 percentage points to hit 3.3 per cent.

To rein in soaring commodities prices, joint efforts have been made to manage inflation expectations, promote production, ensure supplies and strengthen price supervision in 2010, said the National Development and Reform Commission (NDRC) in an online statement.

Prices of necessities accelerating during the second half of 2010 have been contained with vegetable prices down 9.4 per cent in December from the previous month last year, it said.

Further, prices of edible vegetable, pork, egg, sugar, liquefied petroleum gas and clothing also decreased significantly in December month on month, the statement said.

To cope with rising prices beginning in July 2010, especially prices of basic supplies, the central government promptly introduced joint inter-ministerial meetings to discuss price controls among 17 ministries and ordered local governments to establish the same mechanism, it noted.

Local governments have worked on improving agricultural facilities, especially in south China's Hainan province, to increase vegetables supplies for northern cities over the past year, the statement said.

The statement forecasts that vegetable planting areas in 2010's autumn and winter will increase 530,000 hectares year on year, sending output to 337 million tonnes.

To ensure production and supply, departments have worked to reduce fertilizer exports and promote links between production areas and purchasing areas, it added.

Further, relevant authorities also took measures to stabilize prices of electricity and coal, and to ensure smooth transportation of agricultural produce.

Authorities also granted temporary subsidies and raised basic wages and minimum living subsidies for urban and rural residents to guarantee people's daily life.

ThePigSite News Desk



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