Macroeconomic indicators - China to step up efforts to maintain price stability

Sunday, 06 Mar 2011

Thanks to governmental efforts to counter inflation, China growth rate of CPI saw a mild decline in January compared to November.

In 2011, China will continue to step up efforts to maintain price stability.

The nation will enhance subsidies to grain production and raise the minimum purchase price of grain. The production, supply and storage of daily necessities such as meat, eggs and vegetables will also be ensured. Since last December, vehicles carrying agricultural products have been exempt from transportation charges. That saved the industry about CNY 13 billion.

Governments at local levels are also trying to lower food price by reducing license and market entrance fees. The government is also striving to establish a long term system keeping subsidies for low-income groups relevant to the cost of living price surge. (sourced:CNTV)