December 2, 2008

China lifts food price controls

China has lifted price controls on food as the government ended a yearlong campaign to curb inflation.


Price controls on port, beef, dairy products and eggs have been lifted, said the Cabinet's planning agency.


The controls were implemented in January as shortages of pork and grains led to inflation. However, inflation has eased in recent months and the government is now more concerned on the slowing economy growth.


Beijing will now shift resources toward its new goal of boosting its slowing economy.

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