Commerce minister calls for stable market during Olympics

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    BEIJING, Jan. 19 (Xinhua) -- Chinese Commerce Minister Chen Deming on Saturday called on departments at all levels to ensure market supply during the Olympic Games and public holidays such as the upcoming Spring Festival.
    "Our top priority is to guarantee sufficient supply of major commodities, such as grain, edible oil and meat products," Chen said at a national commerce working conference concluded here on Saturday.
    He said local departments should watch closely over price fluctuations of major commodities to prevent overall price increases. Governments should pay special attention to the consumption demand of low-income families and college students.
    Chen added local departments should offer price forecasts to help stabilize consumer sentiment and step up production to ensure market supply.
    The nation currently has commodity reserves in 23 provincial regions for 22 kinds of products. It also has a primary market supervision network covering 22 distribution industries and 600 consumer goods.
    As domestic consumers prepared for the annual Spring Festival shopping spree, the government on Wednesday moved to restrict price rises on key household commodities, including grain, edible oils, meat, milk, eggs and liquefied petroleum gas.
    It was the latest in a series of moves since July to cool surging inflation, which has stayed well above the official critical mark of four percent and reached an 11-year high of 6.9 percent in November.
    Official statistics revealed edible oil, pork and beef prices in early January in 36 large- and medium-sized cities nationwide surged 58 percent, 43 percent and 46 percent, respectively, year on year.
               
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