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China's National Development and Reform Commission or NDRC, has announced it will establish two offices dedicated to preventing anti-competitive behavior in markets.
The two offices, the Anti-Monopoly Office and the Market Price Supervision Office, will control monopolistic behavior and curb market manipulation. Speculation was blamed for soaring prices of some agricultural products in China in May. The price of mung beans, for example, soared, from nine yuan a kilogram in October 2009 to 20 yuan by May.
On Thursday, authorities fined some farm produce traders in northeast China for conspiring to push prices higher.