The earthquake will not have a big impact on China's CPI (Consumer Price Index), according to Shi Gang, Secretary of the General Office of the National Development and Reform Commission (NDRC), at the press conference on May 28th, held by the State Council Information Office of the People's Republic of China.
Shi Gang contended that although the grain price is an important factor in CPI fluctuation, China possesses a relatively high rate of grain self-sufficiency (more than 95 percent); and an abundant grain stock based on the current grain supply and demand situation. In addition, the summer grain harvest of Sichuan Province – a major grain producing and agricultural province – is still expected to be good; and these factors will help ensure a relatively stable grain price to avoid influencing the CPI.
Mu Hong, deputy director of the NDRC, said that agricultural production has suffered great damage in the disaster areas. In order to ensure the food supply for people in disaster areas, the Central Committee has sent part of the grain reserves to the disaster areas. In the present situation, there is a guaranteed food supply and grain prices are stable in Sichuan Province.
By People's Daily Online
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