Friday, May 06, 2016

China will finish with 2 1000 years of monopoly on salt in 2017

Beijing, 6 may (EFE).-China will from next year one of his most enduring monopoly, exercised for more than 2000 years, to eliminate the control over prices, production and distribution of salt.
The official television broadcaster CCTV reported on Friday that the State Council, the Executive power in the Chinese regime, decided to start a reform which, in practice, will end with the Government monopoly on salt, but that, for now, does not authorize new producers and traders.
The companies dedicated to the production and wholesale of salt in China need a special permit from the Government to operate and, until now, Beijing also established production quotas, prices, and reserved the right to public undertakings.
The State Council, according to the official press, must not approve the entry of new actors in the industry, but will stimulate mergers and acquisitions of companies that operate at present to allow the entry of private capital.
The salt is a monopoly controlled by the authorities since the 7th century Bc, before including the unification of the country. The Government had already expressed its intention to put an end to this practice for years, but found some resistance within the sector.
In any case, in a decision released today, the Chinese Government reserves the right to intervene in prices in times of large oscillations.
UOL - 06/05/2016
Related products
News Item translated automatically
Click HERE to see original
Other news
DATAMARK LTDA. © Copyright 1998-2020 ®All rights reserved.Av. Brig. Faria Lima,1993 third floor 01452-001 São Paulo/SP