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Ministry seeks more power to ensure supply in times of crisis
By Wang Yanlin |
February 22, 2011, Tuesday
|
Online Edition
Online Edition
THE Ministry of Commerce will revise a rule to ensure the supply of daily necessities in times of emergency and may demand retailers to report supply shortage or panic buying within an hour.
The ministry is now soliciting public opinions for the revision. People can submit their suggestions before next Wednesday.
The move came against the background of China's frequent natural disasters in recent years, increased speculation in agricultural products and rising living costs.
Sun Lijian, an economics professor at Fudan University, said such a revision is important to guarantee social stability and will give policymakers more power to put prices under control.
China suffered a series of natural disasters and grave accidents in recent years which disrupted the normal supply of daily necessities.
This year, central China struggled with the worst drought in decades while other areas suffered days of icy rains which brought traffic to standstill. Earthquakes and epidemics also can wreak havoc and put the supply of daily goods in disarray, according to a draft for the revision.
The ministry is now soliciting public opinions for the revision. People can submit their suggestions before next Wednesday.
The move came against the background of China's frequent natural disasters in recent years, increased speculation in agricultural products and rising living costs.
Sun Lijian, an economics professor at Fudan University, said such a revision is important to guarantee social stability and will give policymakers more power to put prices under control.
China suffered a series of natural disasters and grave accidents in recent years which disrupted the normal supply of daily necessities.
This year, central China struggled with the worst drought in decades while other areas suffered days of icy rains which brought traffic to standstill. Earthquakes and epidemics also can wreak havoc and put the supply of daily goods in disarray, according to a draft for the revision.
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