floods and reforms drive grain prices up
Article Abstract:
Retail rice prices in Beijing have jumped to RMB3.5 per kg on 23 August form RMB2.5 per kg on 17 August 1998 while prices for wheat and corn have up also. Apart from transportation system, flooding caused damages on farmland, which represented 11% of 1997's summer output. This would lead to shortage in grains supply while some sellers drive up grains prices for making huge profit in flooding area. Meanwhile, the state grain firms carried out so called " Grain-circulation reform " which set grain prices to prevent losses in 1998. This would help to boost the grain prices. *
Comment:
China: State grain firms carry out so called "Grain-circulation reform" which set grain prices to prevent losses in 1998
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Onfem subsidiary pays $23m for low-cost, high-tech Xinbao
Article Abstract:
Onfem Holdings' subsidiary Magnequench International (MQI) has acquired Xinbao Investment for US$3 mn. Xinbao will give MQI an established technology and manufacturing base which will facilitate its speedy entry into China. MQI will also enjoy a reduction in production costs due to low labour costs and abundant raw materials in China. Before the deal, MQI, a world leader in producing and marketing neodymium magnetic materials, accounted for 95% of Xinbao's business. *
Comment:
Acquires Xinbao Investment for $3 mil to facilitate its speedy entry into China
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Use of reserves to steady grain prices
Article Abstract:
China plans to use grain reserves to stabilise national grain prices. Besides, local authorities will be allowed to set prices they pay farmers for grain based on the level stated by the central government. State-owned grain firms must buy grain from farmers at subsidised prices when market prices are low. Lastly, grain producing and selling regions are required to co-operate with each other when setting prices to reduce differences in grain prices. *
Comment:
China: Plans to use grain reserves to stabilise national grain prices
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
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