Development And Reform Commission: Hot Money Speculation To Promote Cotton And Other Agricultural Products, Oil Prices

"Speculation of idle funds promotes the price increase of agricultural products."

The NDRC enumerated 7 kinds of improper behaviors, such as "massive hoarding" and "refusing to sell", and urged all localities to resolutely investigate and punish them.

Country

Determination of "three statements"

Statistics show that CPI grew by 4.4% in October, a 25 month high.

The data sparked public concerns about inflation.

On the 20 th of this month, the State Council promulgated "16 countries", and made arrangements for stabilizing prices from 16 aspects, namely, increasing agricultural production and stabilizing the supply of agricultural and sideline products.

Since 22, the NDRC has issued a document on the official website to explain how to implement the "16 countries".

On the 22 day, the NDRC issued a document saying that our country has the ability to keep the overall price level basically stable.

On the 23 day, the NDRC issued a document requiring all localities to comprehensively control the price level by using economic, legal and necessary administrative means.

Yesterday, the NDRC issued a paper saying that the speculation of idle capital is a direct push for the rising prices of agricultural products.

The responsible person of the NDRC told reporters yesterday that stabilizing the prices and ensuring the basic livelihood of the residents are the top priorities of the NDRC.

Announce the specific scope of attack

Yesterday, the NDRC enumerated various price violations: deliberately exaggerating the contradiction between supply and demand, fabricating and disseminating false information of agricultural products such as disaster reduction and production; buying and selling themselves, and making internal pactions, making false pactions; selling a lot of tight supply commodities; refusing to sell; manipulating the prices of electricity trading market, promoting the spot price rising; employing work associations and fraternity groups to conspire together to collectively raise prices; the operators inform each other of the price increase information, and adopt the default consistent way to implement the price cartel; the industry association organizes and harmones the collective price hikes of operators.

The NDRC called for a more resolute attitude towards vicious speculation and price offenses. Actions should be more decisive and measures should be more effective. In addition to giving financial penalties, it should also be publicly exposed through the news media, so that vicious speculation and price violations can be hidden.

On the evening of 23, the NDRC announced a number of enterprises selling diesel at a high price.

The phenomenon of selling diesel oil at a high price is very common now, which is considered by the industry to be a "real thing" symbol.

The NDRC said that such behavior "seriously disrupted market order, and the government could not sit idly by". It announced that the typical illegal enterprises were intended to warn all producers and operators that if they violated the State price policy, they would be severely dealt with.

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- correlation

Mung bean and cotton products are frequently hyped up.

The director of the Economic Research Office of the NDRC said that in addition to short-term strike actions, a long-term regulatory mechanism should also be established.

The development and Reform Commission said yesterday that the speculation of idle funds was a direct promoter of the rising prices of agricultural products.

In July, the NDRC investigated a number of enterprises such as Jilin Corn Center Exchange Ltd to hype the price of mung beans.

The price control department imposed a fine of 1 million yuan on the market sponsor Jilin Corn Center Exchange Ltd, in accordance with the statutory maximum penalty amount, fined 500 thousand yuan for the co operation enterprises, and warned the other 109 mung bean distribution enterprises participating in the meeting and colluding with each other.

In terms of refined oil products, the NDRC said that due to the tight supply of diesel fuel at present, operators violating the government's pricing practices frequently occur, and some operators even take the means of not counting, not making accounts or settling accounts.

On the evening of 23, the NDRC announced a list of companies that violated the price regulations of refined oil products, and the two largest oil companies were listed.

The development and Reform Commission said that the acquisition of cotton was also a vicious speculation of hot money. The phenomenon of unlicensed acquisition and unlicensed processing was more prominent. Some acquisition companies did not have the relevant qualifications for admission, but they rushed to buy up prices.

Sun Xuegong, director of the Economic Research Office of the national development and Reform Commission, said that another important reason for the rise in the prices of agricultural products is that the way of market pactions has undergone essential changes. Compared with the past, the trade of agricultural products tends to be more specialized, but the relevant mechanisms are not yet sound, which makes it easy for speculators to take advantage of them.

He believes that in addition to short-term strikes, the government should also establish long-term regulatory mechanisms to regulate the trading mechanism of agricultural products.