By Susan Ning and Yin Ranran
On 2 April 2011, the National Development and Reform Commission (NDRC) hosted a conference with 17 industry associations (relating to businesses selling major consumer products such as household electrical appliances, food, beverages and dairy products) in Beijing. Specifically, the NDRC’s Price Department and Economic and Trade Department convened the conference as an effort to address the recent price hikes in commodities (see our articles entitledPrice Hikes for Washing Powders, Soaps and Shampoos Expected in April and Businesses Should Be Cautious in Making Advance Price Increase Announcement ).
The NDRC hosted conference was also regarded as an effort of NDRC to address China’s increasing consumer price index (CPI) – which is a major indication of the rate of increase of inflation in China. According to data released by the National Bureau of Statistics on April 15, China’s CPI rose 5.4% in March 2011 (from a year ago), hitting a 32-month high.
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