Mar­ket will now de­ter­mine to­bacco prices

China Daily (Canada) - - FRONT PAGE -

China has an­nounced that pro­cure­ment prices for to­bacco leaves will now be set by sup­ply and de­mand, in a coun­try where one-third of the world’s cig­a­rettes are con­sumed but where sales of high-end cig­a­rettes have dropped dur­ing the re­cent cor­rup­tion crack­down.

To­bacco com­pa­nies are now al­lowed to in­de­pen­dently set pro­cure­ment prices on to­bacco leaves based on com­pa­nies’ rev­enues and de­mands, in­stead of pur­chas­ing the leaves at prices set by the gov­ern­ment, ac­cord­ing to a gov­ern­ment state­ment.

“To­bacco com­pa­nies have formed long-term common in­ter­ests with to­bacco farm­ers, and it will be more rea­son­able to al­low them to set prices,” said Wang Sheng­min, an of­fi­cial of the NDRC’s price depart­ment.

An­nual pro­duc­tion of leaf to­bacco in China is around 2.5 mil­lion metric tons per year, with a to­tal value of less than 100 bil­lion yuan ($16.1 bil­lion), he said.

PRO­VIDED TO CHINA DAILY

Nearly 95 per­cent of In­ter­net users sur­veyed in China dis­ap­proved of the re­moval of scenes show­ing cleav­age on screen in a Chi­nese tele­vi­sion drama, call­ing the move “un­nec­es­sary”. The drama,

also known as the was re­moved from com­mer­cial satel­lite sta­tion Hu­nan TV for “tech­ni­cal rea­sons”.

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