Central SOEs pledge to keep prices stable on essentials

A total of 10 centrally-administered State-owned enterprises, also known as central SOEs, have pledged not to raise the prices of immune drugs, protective clothing and other materials needed to combat the outbreak of pneumonia caused by the coronavirus across China, according to information released by the State-owned Assets Supervision and Administration Commission of the State Council.

Central SOEs including China Petrochemical Corp (Sinopec), China National Petroleum Corp,China General Technology (Group) and Sinochem Group, have all accelerated their manufacturing pace to produce more epidemic prevention and control goods such as facial masks, gloves, thimerosal and polypropylene to ensure sufficient supply nationwide.

In addition to increasing the supply of rice, vegetables and edible oil in Hubei province and other parts of China, COFCO Group, China Resources Group and China Grain Reserves Group have also tightened supervision on retailers to prevent speculation.