Chinese local pricing authorities have been told to step-up
efforts to stop food producers and sellers that attempt to raise
food prices to an unreasonable level, said sources with the
National Development and Reform Commission (NDRC) on Monday.
Describing the nationwide campaign as a major political task,
the top economic planning agency urged pricing departments at all
levels to work hard to stabilize the food market.
The move comes in the wake of recent food price hikes that have
pushed the consumer price index, the country's inflation rate,
above the government's target of 3 percent for four consecutive
months.
The campaign, mainly targeting food manufacturers, wholesale,
and retail firms, will overhaul the prices for daily foods like
grain, cooking oil, meat, poultry, eggs, and milk.
NDRC vowed to severely punish those who jack up food prices by
revoking their business licenses and bringing them to justice in
collaboration with the police and commercial and quality
authorities.
China's State Administration for Industry and Commerce also said
on Monday in an urgent circular that local governments must rid the
pork market of sellers that plot price hikes by hoarding and
fabricating rumors.
The administration will also clamp down on venders of diseased
and water-injected meat.
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(Xinhua News Agency August 7, 2007)