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China Regulating Grain Purchasing Prices
The State Development Planning Commission (SDPC) said Thursday that it will strengthen regulation over grain purchasing prices in China's provinces and regions. The SDPC stressed the consistent prices in different regions, which it held fundamental to China's reform in the grain circulation system.
The local government should consult grain purchasing prices in neighboring provinces before deciding its own pricing policy. Those who violate the price agreement will be punishment, according to new rules set by the SDPC.
The new rule will help local governments to control grain purchasing as well as facilitate reform in the grain circulation system, SDPC said.
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