Beijing orders price monitoring during festival season
11 September 2007
Beijing has ordered a crackdown on price manipulation ahead of the Mid-Autumn Festival on September 25 and the week-long national holidays in October, the South China Morning Post reported. The National Development and Reform Commission issued a circular telling lower-level regulators to increase inspections on the price of festive products like moon cakes. It also wanted stricter price controls on transport, hotels, catering and tourist spot administration fees. It said price irregularities must be reported to the government, and that those found guilty would face serious punishment. Price manipulation has been a sensitive topic as inflation has been on the rise in China, with the consumer price index for August reaching 6.5%, the highest since February 1997.
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