07 May 1998
Chinese provinces to take on grain pricing
CHINA is to shift responsibility for setting the state purchase price for grain from central to provincial authorities.
It signals an important step towards reforming a grain marketing system plagued by waste, inefficiency and corruption, reports the Financial Times.
The effects could be to trigger a decline in state prices, bringing them closer to the free market prices.
The Agriculture Ministrys rural economy research centre said the plan was likely to lead to a wide divergence of prices throughout China.
- Financial Times 07/05/98 page 40