SBM stared staff subsidies – price rise linkage mechanism

From the price rise of garlic and bean, to that of apple and sugar, rising prices stimulate the citizen’s sensitive nerve. April 8, according to the SBM administrative center work conference, this year, the staff subsidies facing price rise will continue, in order to improve their life through a series of policies.

Market hot money push price to rise

According to statistics, Shanghai CPI is 4.3% higher than last year. Among them, the food price get the highest rise, which is 10.1%.

"The price rise reasons are different with that of 2004, 2007, 2008." Zhou Wangjun, the vice director of price department of national development and reform commission said, "price rise of 2004 was due to the lack of food production decrease. That of 2007 was caused by shortage of pork. The main characteristic of this time is mainly on food price rise." He considers food price as the base of the price rise.

Mr. Zhou said overissue of currency and other reasons accelerated the price increases. In addition, "hot money is also a reason of price rise." He also said last year the bean, garlic price rise was due to capital hype.

SBM stared staff subsidies – price rise linkage mechanism

Facing the rapid price rise which brings employees life burden, SBM administrative center work conference research decided, from April 15, to start staff subsidies – price rise linkage mechanism immediately.

The staff subsidies – price rise linkage mechanism stipulated, on the base of the original subsidy project, SBM will increase employee’s life subsidies, and as for poverty-stricken employees, SBM will regard them as key entitles groups. The month of the mechanism, SBM will replace the first 3 months of this year, and pay the subsidies every month until the mechanism ends up.