The days of high pork prices may be winding down. The Chinese government has released measures to stabilize the costs of key farm produce after consumer prices rose at their fastest pace in almost eight years. Economists say the price of pork and its substitutes will be contained, though it may take some time.

CGTN’s Ma Ke reports.

At morning markets around China, consumers are buying a lot from the poultry and seafood stalls. But they’re not ruling out pork entirely. China’s policymakers say hog and pig numbers will soon start trending upward again.
Specific measures include removing unjustified bans on pig farms to increase domestic supply..

Professor Liu Baocheng from the University of International Business and Economics says it may also help with poverty alleviation in the rural areas.

“One thing that the government has noticed and taken a full note of the acute supply. By offering more subsidies and more leeway to them to set up their own pig farms. And this is really related to poverty alleviation,” said Professor Liu Baocheng. \

The Chinese government has decided to enlarge imports to catch up with domestic demand in the short term. Professor Liu says this could even help nudge along the thawing of China-US trade relations.

Many are concerned that the rising farm produce prices could be a sign of inflation. CPI is usually seen as a sign of inflation…What does the number 3.8 means for China’s economic prospect. 

” This is not really completely scary for China,” said Professor Liu. “For an economy of 6% and even above growth rate to manage 3% can really push forward the economy because you’ll spend ahead, hopefully, bring better return when consumers and investors’ confidence is still there. This is really expansionary policy. ”