Rus News Journal

The yuan has outgrown free prices

the Authorities of the Peoples Republic of China are so anxious by that inflation in 2007 has reached record level of 6,5 % that have dared to return temporarily state price control to the basic food and raw goods. With January, 15th the largest enterprises of the Peoples Republic of China should co-ordinate each rise in prices with the country government. Shortly before celebrating of the Chinese New year local authorities will strengthen control over reasonable character pricings and at regional level.
acceleration of a rise in prices and a failure of the governmental plans on inflation not purely Russian phenomenon: in Russia following the results of 2007 of the power counted on 8 %, and have received 11,9 % - in China hoped for 3 %, there were 6,5 %. Here again and there the rise in prices for the foodstuffs is guilty. As well as in Russia, in the Peoples Republic of China struggle against inflation is not limited exclusively to measures of monetary character, all goes to a course administrative regulation more strongly. As well as in Russia, in the Peoples Republic of China sotsoprosy show the increasing discontent too high prices in December, 2007 so the majority of Chineses for the first time has answered. Thus if the Russian government consistently pretends that arrangements on freezing of the prices that on gasoline on articles of food carry exclusively a voluntary nature the Chinese government does not hide intervention in pricing processes.

for last month in China some measures directed on restriction of a rise in prices for the foodstuffs are accepted at once, report Sinhua . As well as in Russia, the first with what have begun in the Peoples Republic of China, - export restriction. From - for a rise in prices for grain in the world market its export from China in 2007 began to grow quickly also the prices in home market, accordingly, have grown. In 2008 export of wheat, corn, soybeans and a flour will be assessed with time duties in the size 5 - 25 %. It is entered kvotirovanie and export licensing. Earlier in the Peoples Republic of China have refused stimulation of export of the foodstuffs in the form of tax returns. However, measures of customs regulation it seemed to the Chinese authorities insufficiently.

on January, 9th, 2008 state council of the Peoples Republic of China under the chairmanship of prime minister Ven Tszja Bao has made the decision that of the price for gasoline, natural gas and an electricity, and also municipal and transport tariffs in the near future should not change . It is entrusted to Local authorities and corresponding departments to double the watch over a rise in prices, to help the enterprises it is more reasonable to establish the prices . Besides, to businessmen have reminded that the companies which participate in arrangement and dismiss hearings for the purpose of lifting of the prices or raise them before official approval and registration, will be strictly punished .

the next portion of administrative regulation on January, 15th, 2008 has followed. The State Committee on affairs of development and reforms (NDRC) has entered time regulation the prices for the basic articles of food - grain, vegetable oil, meat, meat products, milk, eggs and szhizhennyj gas. The large enterprises now ten days prior to planned rise in prices for these goods should represent to the government a substantiation, then for a week the government should approve or reject rise in prices. Similar measures are provided by the Chinese legislation, has told Sinhua the head of department of pricing NDRC of Tsao Chantsin. 12 largest manufacturers of the foodstuffs have already got To the list of these enterprises and ritejlerov.

However, already on January, 17th, 2008 the Chinese authorities have let know that are not going to use administrative levers too rigidly. Tsao Chantsin has explained that Acceptance by the state of provisional measures of price control has for an object bridling of unreasonable rise in prices, the Chinese government will not interfere with increase by the domestic enterprises of the prices in rational limits .

Besides to refuse measures of monetary character in the Peoples Republic of China do not gather. Yuan exchange rate growth proceeds, for the last week he has grown on 0,28 %, to 7,24 yuans/ $, and since July, 2005 - on 14 %. The Chinese Central Bank, struggling with inflation and an economy overheat, systematically raises interest rates and reserve requirements (on January, 25th they will be raised to 15 %). Probably that, as well as to Russia, freezing of the prices on - kitajski only Prenew Year`s public relations - the action of the authorities, aspiring to calm needy layers before a holiday. The Chinese New year is celebrated in the Peoples Republic of China on February, 8th with the same scope, as European.