Seven ministries and commissions issued an urgent notice to strictly investigate the act of driving up cotton prices

by:Ennas      2021-11-18

The National Development and Reform Commission and other 7 departments recently issued an urgent notice requesting the relevant departments of the cotton-producing area government to further strengthen market and quality supervision, strengthen the investigation of the social hot money renting factories or entrusting the purchase and processing of cotton, and seriously investigate and deal with disrupting market order and non-performance Violations of quality obligations, and severely investigate and punish behaviors such as spreading price increase information, malicious hoarding, and driving up prices. According to the ``On Effectively Implementing the Spirit of the National Cotton Work Video and Telephone Conference and Maintaining the Current Cotton Market Urgent Notice of OrderAffected by factors such as rising cotton prices in the international market, unfavorable climates in some production areas, and market speculation, cotton prices have risen rapidly since September. In some areas, there have been squeeze purchases, mixed grade purchases, adulteration, and unlicensed purchases and processing. Cotton and other issues. In order to stabilize the cotton market and standardize the circulation order, the 7 departments required the governments of cotton-producing regions to seriously formulate purchase capital supply plans, actively coordinate relevant financial institutions to provide financial services for the purchase of new cotton, and avoid gaps in the supply of purchase funds and 'whitening' issues. Click to view: Urgent notice on practically implementing the spirit of the national cotton work video conference and maintaining the current cotton market order Source: China Daily
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