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NDRC: Curbing measures not to impact market-oriented pricing system

12-02-2010 09:51 BJT

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China's State Council has taken recent steps to stabilize prices. So far, it has asked local authorities to take temporary measures, but officials at the NDRC, say there's no current need to take nationwide curbing measures.

Some critics say the price control measures may impact market-driven prices. But the National Development and Reform Commission says such concerns are unnecessary.

Zhou Wangjun, Vice Director of Price Department, NDRC said "We have legal grounds to take temporary price control measures. In Article 30 of the Price Law, the government has the right to control rising prices. Also, it's common practice for market-economies to tackle unusual price fluctuations. The U.S., Germany, Japan and South Korea have all applied selective controls to tame price pressures in the past."

China has taken measures to tame its own soaring prices in 2003 and 2008.

The Vice Director says the curbing measures will not impact the market-oriented pricing system and normal business operations. He says the steps have produced some initial results.

Zhou Wangjun said "Recently, we used economic and legal measures to stabilize prices. Now, the rising trend has been curbed."

He says the government has distributed reserved commodities, such as grain and oil, to ensure efficient supply. Local authorities are also guiding companies to increase production.

Meanwhile, he says the NDRC is clamping down on price violations such as price manipulation and collusion. The Commission will strengthen supervision measures to ensure stable prices in the market.

Editor:Xiong Qu |Source: CNTV.CN

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