China releases more pork from reserve to cool prices

Animal right activists wearing pig masks stage a memorial rally for those slaughtered due to African swine fever in Seoul, South Korea, Thursday, Sept. 26, 2019. South Korea on Wednesday said it was intensifying efforts to clean farms around the country as it scrambles to contain the spread of the highly contagious African swine fever that has ravaged farms near its border with North Korea. (AP Photo/Ahn Young-joon)
Animal right activists wearing pig masks stage a memorial rally for those slaughtered due to African swine fever in Seoul, South Korea, Thursday, Sept. 26, 2019. South Korea on Wednesday said it was intensifying efforts to clean farms around the country as it scrambles to contain the spread of the highly contagious African swine fever that has ravaged farms near its border with North Korea. The banner reads " Stop burial of living pigs." (AP Photo/Ahn Young-joon)
Animal right activists wearing pig masks stage a memorial rally for those slaughtered due to African swine fever in Seoul, South Korea, Thursday, Sept. 26, 2019. South Korea on Wednesday said it was intensifying efforts to clean farms around the country as it scrambles to contain the spread of the highly contagious African swine fever that has ravaged farms near its border with North Korea. The banner reads " Stop burial of living pigs." (AP Photo/Ahn Young-joon)

BEIJING — China's government is releasing pork from stockpiles for the second time this month to help cool surging prices ahead of next week's celebration of the Communist Party's 70th anniversary in power.

The government said Thursday it will auction off 10,000 tons of pork, the country's staple meat.

The price of pork has soared almost 50% from a year ago due to a devastating outbreak of African swine fever that killed or prompted authorities to destroy vast numbers of pigs.

That is a sour political note for the ruling party, which bases its claim to power in part on improved living standards over three decades of market-style economic reforms.

The disease that is fatal and very contagious for pigs does not harm humans. It has spread to many Asian countries.

Must Read

Asian markets lower after Wall Street decline

Sep 15, 2016

Asian stock markets were mostly lower Thursday following Wall Street's decline in light trading...

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

China begins to ease its 2,000-year-old monopoly...

Jan 3, 2017

China has started an overhaul of its salt industry, easing a monopoly that has existed in some form...

DEA opens shop in China to help fight synthetic...

Jan 6, 2017

The U.S. Drug Enforcement Administration plans to open a new office in southern China and, at...

Chinese delegation open to meeting Trump's team...

Jan 11, 2017

A Chinese official says President Xi Jinping's delegation to the World Economic Forum is open to...

Sign up now!

Advertisement

About Us

Asialogue holds a collection of past news for readers to understand what happened before these latest events.