THE State Council on Sunday announced a further series of measures to rein in rising commodity prices as the country steps up efforts to combat rapidly rising inflation. The State Council ordered local governments to boost agricultural production, stabilize supplies and reduce prices, Xinhua said, citing a seven-page document. It also instructed local officials to ensure oil, gas, coal, and power supplies were sufficient and provide temporary subsidies. Local authorities were also ordered to coordinate social-security programs to provide a gradual rise in basic pensions, unemployment insurance and minimum wages. The new order comes a day after China said it would increase grain supplies, open up more land for planting vegetables and crack down on hoarding. The moves come as consumer prices rose at the fastest pace in two years, fuelled by soaring food costs after severe summer flooding and more recent cold snaps affected crop yields. The agricultural ministry said Saturday it would increase the area of land available for vegetable crops “to stabilize production and increase vegetable supplies during the winter. (SD-Agencies) |