China has activated the struggle with the rapid increase in commodity prices, causing the leaders of the largest companies to the meeting. The authorities threatened them with punishments for various violations – from speculations before the spread of fake news, Bloomberg writes.
The government announced a war and will show “zero tolerance” to monopoly behavior and accumulation, the statement of the National Development and Reform Commission (NDRC). The authorities constantly warn about the consequences of rising prices for metals, which have reached the highest level for almost a decade.
Key enterprises must “actively fulfill their social responsibilities”, taking a leading role in maintaining order on the market, noted in NDRC. “Do not enter into collusion with each other to manipulate prices, do not fabricate and do not distribute information about the rise in price, do not increase the prices,” the Commission called players.
The fact that Beijing also dealt with a problem partly created by himself is most seen on the example of steel. At her, prices flew to a record level after the government ordered to reduce production this year. Instead, in April, it has grown to a record level.
Following the first quarter of the current year, China’s economy has grown to a record 18.3 percent, despite the fact that in the same period last year it fell by 6.8 percent.