The Ministry of Commerce is planning to establish an early-warning system to better monitor the production, sale and price of important commodities, said Fang Aiqing, director of the Department of Market Operation Regulation with the Ministry, during an online interview when talking about recent price fluctuations of steel, meat, egg and other products caused by short supply.

Fang said his department is busily studying the subject, trying to work out a detailed plan before this yearend for setting up such a warning system.

The Ministry has strengthened monitoring on key products according to market performances in 2005. Two categories of commodities are more closely watched: important production means such as steel, coal, coke, cement, aluminium, chemical fertilizer and cotton, and daily necessities including grain, meat, vegetable and sugar.

The Ministry has preliminarily formed a regulation mechanism of market operations, which includes four direct-monitoring systems, watching respectively on urban daily necessities, essential production means, key circulation enterprises and the silk sector.

By People's Daily Online