Shanghai Mayor Han Zheng yesterday reiterated that the city will take every
practical measure to ensure stable food prices.
His announcement came in response to a televised conference held by the State
Council which called for nationwide efforts to ensure the food supply and
enhance price monitoring.
Han said the city government would launch temporary pricing intervention if
needed based on price monitoring results.
Food prices and costs will be closely monitored to ensure that producers
charge rational prices while large state-owned enterprises are required to play
their role as main suppliers.
Those found spreading rumors of food hikes, colluding to raise prices, giving
short weight, hoarding products and committing other wrongdoings that disturb
market order will be severely punished, according to Han.
Authorities will increase subsidies to people with financial difficulties to
minimize the impact of price rises on their lives and prevent price surges in
university canteens.
China's Consumer Price Index in November soared 6.9 percent from a year
earlier, close to an 11-year high. Food prices, which make up about one-third of
the CPI basket, rose 18.2 percent, compared with a 17.6-percent gain in October.