China's top economic planning agency urged local governments on Wednesday to redouble efforts to prevent speculative funds from driving up prices of a wide range of products.
Provincial authorities must act firmly to prevent hoarding and price gouging, the NDRC said on its website (www.ndrc.gov.cn).
"With the government taking more tightening measures, some speculative funds have started to take on various new guises, which poses a new challenge to our regulations," the NDRC said.
Beijing has taken various steps in the past week to increase supplies of food and energy. It has said it will resort to price controls if necessary.