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Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

重点提要 

China’s economic planner intends to prevent a pork price surge, as the meat has climbed 28% at wholesale level since mid-March;

Chinese and U.S. senior officials hold video talk on economic issues.

中国经济要闻

China’s top economic planner said it will take measures to prevent rapid pork-price increases when it deems appropriate, following steady gains the past three months for the key component of consumer inflation.

The National Development & Reform Commission (NDRC) will use tools such as adjusting reserves, it told representatives of pork and slaughter companies during a meeting, according to a statement released Monday. The NDRC also said it will work in coordination with other agencies to “severely punish illegal activities including fabrication and spread of information about rallying prices and price gouging.”

The commission asked major hog farmers to maintain normal output, sell hogs when they are ready for the market and not hoard them, according to the statement. The meeting concluded that irrational hoarding sentiment has been a major factor behind recent price increases for China’s most popular protein. 

The dominant hog futures contract jumped by the daily limit Monday to 22,755 yuan per ton, the highest level since May 2021. Last September, the contract had been as low as 13,500 yuan per ton. And the price of live pigs soared 11.6 percent at the end of June from the middle of the month to 18.30 yuan per kilogram, while pork price rallied 28 percent from mid-March through late June, according to government data. 

There’s been supply issues of late involving pork, which has the biggest weighting among foodstuffs in China’s consumer price index and could pose broader inflation risks. A price slump last year has been a key factor for subdued overall growth in consumer prices.

Current hog production capacity is overall reasonable and ample, according to the NDRC, saying that with weak consumption there’s no foundation for a sustained significant rise in hog prices. It added representatives attending the meeting vowed to keep a normal output pace. 

针对近期生猪价格出现过快上涨的情况，7月4日国家发展改革委价格司组织行业协会、部分养殖企业及屠宰企业召开会议，深入分析生猪市场供需和价格形势，研判后期价格走势，研究做好生猪市场保供稳价工作。

会议指出，有关方面分析认为，近期国内生猪价格过快上涨，重要原因是市场存在非理性的压栏惜售和二次育肥等现象，部分媒体特别是自媒体捏造散布涨价信息、渲染涨价氛围，短期内加剧了市场惜售情绪。

参会代表一致表示，将加强行业自律，带头做好生猪市场保供稳价工作，保持正常出栏节奏、不压栏囤货；同时建议国家采取积极措施引导市场理性交易，适时投放猪肉储备给市场“降温”，并加强市场监管，特别是严厉打击故意渲染涨价氛围、制造恐慌情绪的行为。

国家统计局7月4日发布的数据显示，2022年6月下旬生猪（外三元）价格报每公斤18.3元，与6月中旬相比，每公斤上涨1.9元，上涨幅度为11.6%。

除此以外，生猪期货大涨，主力2209合约盘中触及涨停，最高至每吨22755元，这还是在上周取得了近9%涨幅基础上实现的。

7月5日，国家发展改革委价格司与大连商品交易所召开座谈会，研究加强沟通协作，共同做好生猪市场保供稳价等工作。会议商定，国家发展改革委价格司与大连商品交易所紧密合作，会同有关方面进一步完善工作机制、形成工作合力，加强现货期货市场联动监管，及时排查异常交易，强化穿透式监管，依法严厉打击捏造散布涨价信息、囤积居奇、哄抬价格以及资本恶意炒作等违法违规行为，切实保障生猪市场平稳运行。

Chinese Vice Premier Liu He, a member of the Politburo of the CPC Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue, held a video conversation with U.S. Treasury Secretary Janet Yellen at the latter's request on Tuesday morning.

According to a statement released after the meeting, both sides had a pragmatic and candid exchange of views on such topics as the macroeconomic situation and the stability of the global industrial and supply chains. The two sides agree that it is of great significance to strengthen macro-policy communication and coordination between China and the United States, as the world economy is facing severe challenges. And jointly maintaining the stability of the global industrial and supply chains is in the interests of both countries and the whole world.

The Chinese side expressed its concern about issues including the lifting of additional tariffs on China and sanctions by the U.S. side, and fair treatment of Chinese enterprises. 

中美高官就经济问题举行视频会谈：7月5日上午，中共中央政治局委员、国务院副总理、中美全面经济对话中方牵头人刘鹤应约与美财政部长耶伦举行视频通话。双方就宏观经济形势、全球产业链供应链稳定等议题务实、坦诚交换了意见，交流富有建设性。双方认为，当前世界经济面临严峻挑战，加强中美宏观政策沟通协调意义重大，共同维护全球产业链供应链稳定，有利于中美两国和整个世界。中方表达了对美国取消对华加征关税和制裁、公平对待中国企业等问题的关切。双方同意继续保持对话沟通。

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