China to end con­trol of salt prices

China Daily (USA) - - NEWS CAPSULE -

China's Na­tional De­vel­op­ment and Re­form Com­mis­sion an­nounced that it will re­move salt price re­stric­tions start­ing next year.

The an­nounce­ment stated that, from Jan 1, 2017, whole­sale and re­tail prices of salt will be de­ter­mined by pro­duc­ers based on their in­di­vid­ual costs, qual­ity, mar­ket sup­ply and de­mands. Lo­cal gov­ern­ments and com­pa­nies should pre­pare for the pol­icy change, the state­ment ad­vised.

Ac­cord­ing to the an­nounce­ment, emer­gency mea­sures will be taken if salt prices fluc­tu­ate ab­nor­mally or sup­plies be­come ex­tremely tight. Res­i­dents of ru­ral and im­pov­er­ished ar­eas will also re­ceive gov­ern­ment sub­si­dies for salt.

The re­moval of salt price con­trol aims to en­cour­age mar­ket com­pe­ti­tion and cross-re­gional sales.

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