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Guangxi moves ahead with metals buying plan
China's newly proved coal reserves fall 43% in 2008
Second phase of national oil reserve base sites undecided
Govt's grain purchase price set to rise sharply

China to further build reserve system

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-03-06 11:39

China will increase national reserves of grain, cotton, crude oil, non-ferrous metals and certain steel products, said a senior official on March 6.

Finance Minister Xie Xuren told a press conference during the ongoing session of the 11th National People's Congress (NPC) that the move is expected to help enterprises sell their products thus promote domestic demand.

The measure is among the central government's efforts to increase the income of low-income communities. The government is also poised to increase subsidy to farmers.

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