China is banning hoarding of oil, coal and other key commodities, seeking to ensure supplies and cool prices that have surged despite repeated moves to curb inflation.
The government planning agency, in comments published Tuesday, says provinces are forbidden to limit shipments of coal beyond their borders and are required to ensure stable supplies.
Local authorities were ordered to crack down on hoarding, bogus bids meant to drive prices higher, and other illegal practices.
China is trying to cool inflation that surged to a 25-month high in October. Authorities say soaring food prices are mainly to blame, but costs for fuel and other necessities have also jumped, as supplies have run short.
The government planning agency, in comments published Tuesday, says provinces are forbidden to limit shipments of coal beyond their borders and are required to ensure stable supplies.
Local authorities were ordered to crack down on hoarding, bogus bids meant to drive prices higher, and other illegal practices.
China is trying to cool inflation that surged to a 25-month high in October. Authorities say soaring food prices are mainly to blame, but costs for fuel and other necessities have also jumped, as supplies have run short.
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