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Government plays slightly lesser role in retail pricing
Last Updated(Beijing Time):2006-11-19 10:06

A latest survey by the National Development and Reform Commission (NDRC) shows that the government is playing a lesser role in retail pricing of social consumer goods.

According to data with the NDRC, the proportion of government input in retail pricing of social consumer goods dropped 0.3 percent from the previous year to 4.4 percent in 2005, with the rest being decided by market forces.

The percentage of the pricing of production materials determined by market forces rose by 4.1 percent to 91.9 percentage last year.

Driven by sharp price rises of iron ore, non-ferrous metals and crude oil in the international market, prices of steel, copper and zinc in the domestic markets soared last year, which increased the influence of market forces in the pricing, said NDRC.

But for farm produce, the proportion of prices decided by market forces dropped 0.1 percent to 97.7 percent in 2005.

The NDRC explained that the increase in the government's role in the pricing of farm produce was due to the minimum-price policy adopted in 2005 to protect farmers' interest.

Source:Xinhuanet 
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