Li Xingqian, director of the Department of Foreign Trade at China’s Ministry of Commerce, has said that China will closely monitor the trend of commodity prices.
According to Mr. Li, the rapid rise in demand both from overseas and in the local market has intensified the increases in commodity prices, though the rises in the international market are considered to be the main factor. Production cuts are expected to be seen in the near future, he noted, while adding that China had increased production in the first half of the year.