China has recently released more pork reserves, the fourth time this month. This came after the price of basic meat went up by almost a third, which caused increased concerns about inflation.

The National Development and Reform Commission – the Chinese regime’s top economic planner – has already released pork from the state reserves three times in order to keep costs down. But it’s not enough, and more hogs are to be slaughtered.

Prices have kept going up. And a possible increase in demand during the weeklong National Day holiday at the beginning of October has forced the government into action. 

According to China’s National Development and Reform Commission, nearly 70,000 tons of central pork reserves were released in three batches in September. Most provinces have already started to release their pork reserves.”

With the latest fourth batch of pork reserves released, China’s state and local governments sent about 200,000 tons of government pork reserves into the market in total in September. 

Pork drives Chinese inflation

Pork is the most popular meat in China.

According to the Organization for Economic Co-operation and Development (OECD), the average Chinese person eats 31 kg or almost 70 pounds of pork every year.

The National Development and Reform Commission said that between September 19 and 23, the average weekly retail price of lean beef in 36 large- and medium-sized Chinese cities rose by 30%.

Despite government intervention, pork prices have been going up since mid-March and now pork costs more than $4.40 per kilo or $9.70 per pound. 

In July, China’s consumer inflation hit a two-year high of 2.7%, mostly because pork prices were going up. 

The Chinese regime keeps a lot of frozen pork on hand and gives it away to keep prices stable, especially around the time of the Lunar New Year.

This time, the pork reserves were released close to the Chinese Communist Party’s 20th National Congress, which will start in the middle of October. This is to avoid any dissatisfaction among the people.

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