The State Grain Administration published on August 29 the 11th Five-Year Plan of the National Grain Market System Building, in which China plans to construct several State grain trade centers, the Beijing Business Today reported.

 

The national grain transaction center project is intended to introduce State macro control over the grain market. The centers will allow the government to manage grain production and State reserves.

 

The new centers will connect production with sale and publish trade information instantly, in a bid to make transactions more transparent.

 

The document points out that the current Chinese grain market is still defective, with examples such as the unhealthy competition model in the grains purchase market, the regional disparity of grain wholesale markets, and the stagnant market of processed in certain areas.

 

Meanwhile, there is a lack of administrative regulations and supervisions, and the production and circulating information publishing system lags behind current market demand.

 

(Chinadaily.com.cn August 31, 2007)