China makes contributions to keep prices in check

BEIJING (Reuters)-China made fresh insurance keep inflation in check, saying that it will improve efforts to stabilize prices and ensure an abundant supply of necessities prior to Chinese new year.

Sunday, Chinese Premier Wen Jiabao said that the Chinese Government will be able to maintain prices at a reasonable level, one day after the Central Bank raised interest rate for the second time in just over two months inflation persistently high counter.

Cracking down on speculation and price manipulation of market related should be high on the agenda of Governments at all levels, news agency Xinhua said late Sunday quoting a circular issued jointly by the offices of General of the Communist China Central Commission and the Council of State and Cabinet of the China.

The circular also urged strict monitoring of food markets and medicine and prompt departments to distribute subsidies to low-income groups.

China will retain its crackdown on price speculation in 2011, with an emphasis on cotton, edible grains and vegetables, top-of-country planning body oils, national development and Reform Commission said last Thursday.

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