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)
