Measures planned to curb rising food prices
SEVERAL Chinese government departments are planning measures to curb rising food prices, the China Business reported, citing an unidentified official at the National Development and Reform Commission (NDRC).
Prices rose for 24 products out of 31, including vegetables, meat and fruit, in 36 Chinese cities last month. Fan Jianping, chief economist with the NDRC, said interest rate increases would not help to curb inflation and a surge in hot money inflows, combined with domestic speculative money, will drive up Chinese agricultural prices.
$4.5b to be spent on mineral exploration
CHINA will spend 30 billion yuan (US$4.5 billion) searching for domestic mineral deposits over the next five years in an effort to lessen its reliance on imported products, domestic media said.
The government will launch the exploration project in 21 provinces, Xinhua quoted Wang Min, vice minister of land and resources, as saying Sunday.
Chinese scientists have already discovered more than 900 separate locations with mineral deposits over the past 12 years, the report said.
U.K. to export breeding pigs to China
BRITAIN on Monday signed a deal that will allow the export of its breeding pigs to China, home to half of the world s pig population, the British government said.
The deal and future business stemming from the agreement is expected to be worth around 45 million pounds (US$67.16 million) to the British pig industry over the next five years.
The pigs will begin to be flown out shortly, the first export of British breeding pigs to China for three years. With artificial insemination techniques, an adult boar can sire 6,000 piglets a year.
Industrial output to accelerate in 2010
CHINA S industrial production is expected to rise at least 13.5 percent in 2010 from last year, Minister of Industry and Information Technology Li Yizhong said.
It would mark a noticeable acceleration from the 11 percent growth in 2009. China s industrial production rose 13.3 percent from a year earlier in September.
