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MNI BRIEF: China To Lift Commodity Supplies In Various Ways

BEIJING (MNI)

China will increase commodity supplies by tapping into domestic and foreign resources and continuing to strengthen market supervision, said Jin Xiandong, spokesman of the National Development and Reform Commission at a briefing on Tuesday, adding that rising commodity prices would drive up PPI further in Q2 before the measure slows in the second half of this year.

As for iron ore supplies, China will intensify the exploration of deposits, accelerate the construction of new and ongoing projects and the recycling of steel, said Jin. The NDRC will also encourage companies' exploration overseas, and promote imports, Jin added.

China's PPI jumped to an over three-year high of 6.8% in April.

MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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