The Chinese government is moving to reduce the circulation costs of fresh farm produce in a bid to control vegetable prices, which have recently soared due to low temperatures.
The National Development and Reform Commission, the country’s top economic planner has issued a plan together with other authorities such as the Ministry of Industry and Information Technology. From now until the end of 2015, wholesale markets of agricultural products are exempted from land use tax as well as property tax.
The plan also includes a low-tax policy on the production and consumption of fresh farm produce. The Ministry of Commerce has ordered local authorities to release government reserves of farm produce. These combined measures are expected to ease the upward pressures on farm product prices.
