Latest Headlines
China to Shake Up 2,000 Year State Salt Monopoly
  ·  2016-05-06  ·   Source:

China is to shake up the state monopoly on production and sale of table salt, dismantling a system that has been in place for more than 2,000 years.

Salt producers will be able to determine their own production scale and market salt directly, rather than selling only to state distributors, while price controls will be scraped from 2017, according to a statement by the State Council.

China's state control over the salt sector reportedly began around the seventh century BC.

Under current system, Chinese companies are licensed to produce and distribute table salt and operate under a national quota scheme.

According to the statement, the government will not approve new producers and wholesalers in the business, but encourage existent entities to reorganize through mergers and acquisitions, drawing in private capital.

It said under emergency circumstances, the government will intervene to ease price fluctuations while official and enterprise reserves will be released to ensure a stable supply.

(Xinhua News Agency May 5, 2016)

China
Opinion
World
Business
Lifestyle
Video
Multimedia
 
China Focus
Documents
Special Reports
 
About Us
Contact Us
Advertise with Us
Subscribe
Partners: China.org.cn   |   China Today   |   China Pictorial   |   People's Daily Online   |   Women of China   |   Xinhua News Agency   |   China Daily
CGTN   |   China Tibet Online   |   China Radio International   |   Global Times   |   Qiushi Journal
Copyright Beijing Review All rights reserved 京ICP备08005356号 京公网安备110102005860