China to improve price-stability mechanism for staple goods

BEIJING -- China's top economic planner has urged accelerating the improvement of the price-control mechanism for important goods related to people's livelihoods.

The move is aimed at enhancing the country's ability to stabilize the supply and prices of staple goods to lower the impact of fluctuations on people's lives, the National Development and Reform Commission said during a recent video meeting.

The NDRC, together with five other government bodies, has jointly released a guideline on fostering the price-control mechanism.

The meeting underscored work on addressing abnormal price fluctuations. It also called for establishing related mechanisms and systems for price monitoring, forecasting and supervision, among others, to prevent large price fluctuations from affecting people's basic livelihoods.

Efforts should also be made to promote market regulation of bulk commodities and streamline the supply chain of staple goods, such as corn, wheat, edible oil, pork and vegetables, according to the meeting.