On January 3, the National Development and Reform Commission (NDRC) issued a regulation, stipulating that from January 1, 2008 any dealers who increase prices for foodstuffs and other daily necessities by more than 5 percent over a very short time, should report their price hikes to proper local government departments and at the same time, explain why they have made these adjustments. Those who violate the regulations will be ordered to lower the prices of their commodities.   

For more details, please read the full story in Chinese. (http://informationtimes.dayoo.com/html/2008-01/04/content_112319712.htm)

(China.org.cn January 4, 2008)