Nov. 20, 2017
China's political advisors met Thursday to discuss ways to reform the country's grain pricing system.
The bi-weekly consultation session was chaired by Yu Zhengsheng, chairman of the National Committee of the Chinese People's Political Consultative Conference.
Political advisors said grain security is an issue of strategic importance. China has achieved steady growth in grain production in recent years and its food security has been effectively safeguarded.
However, the current grain pricing and storage policies must be improved to address many problems, such as weakened role of the market, a large inventory build-up and high fiscal burdens.
The advisors put forward proposals including measures to reform the country's minimum procurement price system by making it more flexible and letting the market play a more decisive role in the pricing of grain.
Measures should also be taken to improve ways to subsidize the grain growers in order to prevent a drop in their income, they suggested, while saying reforms should also be conducted on grain procurement and storage enterprises.
The consultation sessions are used by political advisors to study major issues with experts and officials.