China has once again raised its domestic fuel prices last week, Central and local governments are being on sectors such as agriculture, fishery, city bus, taxi subsidies, China Government measures intended to reduce the rise in oil prices on the difficulties of crowd effects and basic industries.
From the beginning, Chinese domestic gasoline and diesel prices have risen to 900 Yuan a tonne, a record high, in many parts of the 93rd, had exceeded $ 8 per liter of gasoline. Taxi drivers in central China's Anhui Province says:
"Before the gasoline is more than two dollars more than a, and cherish the memory of that time. ”
"For some time before falling a little, but this time rose more than last time, countries should make people think about it, oil prices are under control, not rising too fast. ”
In order to ease public concerns, Anhui provincial Department of Finance issued a food, taxis, city buses, six major industries such as rural passenger transport subsidy funds $ 2.1 billion, after preliminary estimates, every taxi will receive a subsidy of about $ 7,000.
Energy expert, Dean of school of business administration, the Chinese University Professor Wang Zhen says:
"Oil price increases are manifold and some of the rise in oil prices than larger, has attracted extensive attention, (the Government) for some vulnerable groups, on the basis of sector subsidies, such as agriculture, fisheries, public transportation and other industries. Rising fuel prices caused traffic factors, cost of living increases, also affecting agriculture, especially into the spring planting season. National pricing is to adjust the production enterprises, the balance between supply and demand, constraints of excessive consumption, and hoped that through this (subsidies), mitigating the effects of the Foundation sector. ”
Current oil price subsidy mechanism began in 2009, with oil price linkage, peasant, and some disadvantaged groups mentioned above and the public sector in the oil price hike will have a certain amount of oil price subsidies.
In accordance with the mechanism, after the two raised the price of oil, China's Finance Ministry has total of agricultural comprehensive subsidy funds allocated more than 100 billion yuan, than last year's near-2011 fisheries, forestry, urban public transport, passenger, taxi industry in rural areas have access to $ 67.4 billion oil price subsidies. China's Finance Ministry official said, funds will be direct subsidies to grain farmers to ensure farmers ' grain revenue is not due to rise in agricultural prices and lower, the next step will continue to increase the intensity of oil subsidies earmarked.
Even a few subsidies, many ordinary people are also worried that higher oil prices will affect the price, and again last year there had been rapid increases in prices.
On this, Yu Bin, macro-economic research Department of the development research center under the State Council Minister believes that research on the impact of higher oil prices on domestic prices, and can be implemented in two phases, the first phase is the impact on the prices of industrial production, and then transmitted to the consumer price index (CPI). But he said that do have influence, but it is a very complex process, calculation of specific impact more needs to be done.
The good news is, the two experts interviewed agreed that, from the demand for crude oil in the international market position, not supporting oil prices keep rising, macro-economic research Department of the development research center under the State Council Minister Yu Bin:
"The continuing possibility of a sharp rise in commodity prices this year can be discharged. Decision price is the most important factor is demand, global demand downward, you can exclude the possibility of continued sharp rise in oil prices. ”
Yu Bin said, when China had developed around 4% this year CPI control objectives, also taking into account the commodity prices in high and rise in the domestic price of factors of production such as labour costs of effect on the CPI. In his view, the implementation of 4% about the CPI is expected to target this year despite some difficulties, but can be achieved.
For price-sensitive for needy people, even in the event of price rises, local governments in China have been at the end of 2011 to establish a social assistance and social security standards linked to the rising prices of linkage mechanism, when the short-term fluctuation in prices reach a certain level, subsidies, prices continue to rise after adjusting the relevant security standards, urban and rural poor, unemployed persons are within the scope of protection.
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