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China will sever the link between produce prices and government subsidies to build a price mechanism that benefits both customers and farmers, according to the National Development and Reform Commission. The reform will subsidize consumers when the market price is too high while giving farmers allowances when the market price is below the target, the commission said in a statement on January 31. It added that the target price will factor in overall cost, margins for farmers and price gaps between domestic and overseas markets. (ZHU XUDONG) |
