23 Domestic Economic News Bulletin
Development and Reform Commission Error correction and power restriction
Controlling and deterring speculators Price of agricultural products Fall back
The state's greater efforts to stabilize price measures were effective, and the prices of related agricultural products began to fall. On the 22 day, the prices of farm produce futures continued to fall, and vegetable prices in Beijing's retail market dropped significantly. Insiders said in an interview with reporters that the State Council is more determined to control prices and the momentum of excessive price rises will be controlled.
CBRC order: strictly prevent credit funds from hyping agricultural products
The CBRC recently issued a notice entitled "strengthening the current key risk prevention work" by the China Banking Regulatory Commission (CBRC), requiring banks to thoroughly rectify the terms of the "whole borrowing and consolidation" clause in the fixed assets loan contract, and replace it with at least half a year after the necessary grace period. In addition, the notice also called for an explicit prohibition of the transfer of split loans. The industry believes that due to the longer term of fixed assets loans, supervision of the use of funds is more difficult, which will prevent the flow of credit funds into other areas. But to a certain extent, it will increase the financial pressure of enterprises.
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