1. We will strengthen price regulation and oversight, and keep the overall level of prices basically stable.

1) We will ensure adequate market supply. We will effectively implement the system whereby provincial governors are responsible for the "rice bag" (grain supply) and mayors are responsible for the "vegetable basket" (non-staple food supply). We will improve the reserve system for important commodities and the system for temporarily purchasing and stockpiling major agricultural products, scientifically decide when to increase or reduce reserves, and properly adjust import and export volumes. We will open up channels for the distribution of agricultural products, intensify our work on linking markets directly with agricultural producers, standardize and reduce the rent of stalls at farm produce markets and supermarket slotting fees, and support the upgrading and renovation of key wholesale markets and the development of large grain logistics nodes, wholesale vegetable markets, community vegetable stores and cold-chain logistics.

2) We will make regulation better targeted. We will strengthen liquidity management. We will establish a sound market monitoring and early warning system for important agricultural and sideline products, and improve contingency plans for regulating key commodity markets and prices. We will properly handle the timing, pace and intensity of adjustments to the prices of commodities and services under government regulation. We will set up a sound price adjustment fund in accordance with the law.

3) We will strengthen oversight of prices. We will improve oversight of the futures market for agricultural products, review and rectify electronic trading markets for agricultural products, and curb excessive speculation. We will strictly examine and verify grain purchasing qualifications, and standardize the sale and intensive processing of agricultural products. We will earnestly implement the Regulations on Administrative Penalties for Price Irregularities and the Regulations on Countering Price Fixing, and crack down hard on illegal practices, including hoarding for speculation, price gouging, raising prices in disguised forms and colluding to drive up prices.

4) We will improve the subsidy system. We will continue to provide temporary price subsidies to entitled groups, subsistence allowance recipients in urban and rural areas, and childless and infirm rural residents who receive the five guaranteed forms of support (food, clothing, medical care, housing and burial expenses). Governments at all levels will increase allowances to higher education and secondary vocational school students from poor families as well as subsidies to student cafeterias of such schools. We will set up as soon as possible a sound mechanism for coordinating subsistence allowances and unemployment insurance benefits with price rises to guarantee the basic living conditions of low-income people.

5) We will improve the price environment. We will enforce all rules and regulations on reviewing and standardizing the collection of fees; continue to rescind unreasonable fees; lower excessively high fees; and strictly prohibit the unauthorized collection of fees, overcharging and collecting fees in disguised forms.

6) We will strengthen the guidance of public opinion. We will ensure the price situation is accurately reported, clearly explain pricing policies, and crack down hard on those who maliciously drive up prices by fabricating stories or spreading false information.