Guangzhou will set out to build a long-term mechanism to link public subsidies and social security standards to hikes of commodity prices and establish a joint conference system for regulating market prices, announced Guangzhou Executive Vice Mayor Wu Yimin on January 5.
Mr. Wu also stated that the municipal government will afford high priority to the stabilization of commodity prices and the living standards of the people, and will introduce a price monitoring and early warning system.
He revealed that the municipal government is considering building a long-term mechanism to link public subsidies and social security standards to hikes of commodity prices, and establishing a joint conference system for regulating market prices. Under this system, municipal government leaders will call joint conferences with the heads of related government departments to strengthen regulation of commodity prices.
The municipal government will also take steps increase the supply of grains, edible plant oil, and winter vegetables for local residents, press ahead with price and fee reforms, abolish unreasonable charges, strengthen coordination and interaction with neighboring cities, and establish a high-efficiency information communication mechanism.
(Translated by Guangzhou Association of Foreign Affairs Translators)
