Business

China says it will stabilise commodity market, step up trade and stockpiling adjustment

China will strengthen management from both supply and demand sides to curb "unreasonable" increases in commodity prices, and prevent the pass-through to the consumer, the cabinet said on Wednesday.

A labourer works on coils of steel wire at a steel wholesale market in Beijing
FILE PHOTO: A labourer works on coils of steel wire at a steel wholesale market in Beijing January 17, 2012. REUTERS/Soo Hoo Zheyang

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BEIJING: China will strengthen management from both supply and demand sides to curb "unreasonable" increases in commodity prices, and prevent the pass-through to the consumer, the cabinet said on Wednesday.

The country will step up adjustments on the trade and stockpiling of commodities, and reinforce inspections on both spot and futures market, according to a meeting chaired by Premier Li Keqiang.

(Reporting by Min Zhang and Stella Qiu and Ryan Woo; Editing by Andrew Heavens)

Source: Reuters