China uses 8.5m tons of grain reserve to ensure market supply
Updated: 2010-11-26 22:36
BEIJING - China's top economic planner said on Friday that the country released 8.5 million tonnes of state-reserved grain and cooking oil from November 23 to 26 to ensure market supply meets the demand and to stabilize prices.
These stockpiles included 5.4 million tonnes of corn, 13.5 million tonnes of wheat, 6.3 million tonnes of rice and 300,000 tonnes of rapeseed oil, the NDRC said.
With the consumer price index, the main gauge of inflation, experiencing a 25-month high of 4.4 percent in October, China has been striving to ease commodity price increases and withdraw liquidity.
The Chinese government has also been trying to boost agricultural production, increase supplies of farm produce and energy and crack down on speculation. It also said it would enforce price control when it was necessary.
Also, the People's Bank of China, the central bank, raised benchmark interest rates and hiked the reserve requirement ratio for banks twice in a month.
Wimbledon semifinalist Li Na led host China to capture the team tennis title on Tuesday at the Asian Games, accomplishing her Asiad tour with three consecutive victories.
China continues to face mounting pressure to curb environmental degradation, despite progress in reducing pollution over the last five years, the environmental protection minister warned.
China's top labor official said the country will face a tough employment situation in the next five years.
China is in talks about selling the FC-1 fighter jet to eight countries, Flightglobal.com reported Wednesday.