NDRC to Conduct Nationwide Price Inspections

By Zhang Xiangdong
Subscribe
TEXT:  small   |  medium   |   large
Published: 2010-11-24

Economic Observer Online
November 24, 2010
Translated by Zhang Chao
Original article: [Chinese]




An unnamed official at the National Development and Reform Commision's (NDRC) Price Supervision Department revealed to the EO earlier today that the recently announced investigation into alleged cases of illegal price manipulation in the domestic diesel market is just the tip of the icebereg and that over the coming weeks, the department plans to conduct nationwide inspections into the pricing of basic daily necessities; any instances of illegal activity will be further investigated and publicised.

According to information revealed to the EO, starting from today, the NDRC's Price Supervision Department will formally begin sending investigators out around the country to conduct investigations into prices.

The official did not disclose any particular industries or commodities that would be the target of this round of inspections.

The results of an earlier investigation into the pricing of diesel products have yet to be made public.

The official said that these price inspections are being conducted in accordance with Decree No. 40, an order issued by the State Council on November 19, 2010 related to stabilizing the basic level of consumer prices for the benefit of the masses.

The focus of Price Supervision Department's work is to strengthen price supervision, uncover price fixing and ultimately bring the current round of price rises in relation to agricultural products and other basic necessities under control.

The official said, the relevant departments of the NDRC have already also begun work on researching the introduction of price controls and related measures.

The official also noted that the measures adopted by the Price Supervision Department, "are already not being introduced in a gradual manner, but rather are being urgently rushed through in one go."

Links and Sources
Central Government Website: State Council's Decree No. 40 (Chinese)
Xinhua: Image