Quotable

"This year's slowdown of consumption growth during the holiday break was mainly caused by the decline of high-end spending."

Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation. China's spending during the Spring Festival maintained double-digit growth this year but the pace marked the slowest in more than a decade, according to the Ministry of Commerce. The central government's promotion of frugal dining and restrictions on public spending on expensive gifts and restaurants were the main causes.

"Weak downstream demand is the reason for the rising stockpiles, and the situation will continue for a while, which will exert pressure on market prices for thermal coal."

Liu Dongna, a coal analyst with the consultancy Sublime China Information Co. China's drive to transform its economy, which includes reducing the role of energy-intensive industries and paring steel capacity, is driving up coal inventories at key ports as demand across a variety of sectors weakens.

"Allowing the market to play a key role in the pricing of agricultural products can help boost the farm sector."

Li Guoxiang, deputy director of the rural development institute of the Chinese Academy of Social Sciences. According to this year's No 1 Central Document, a guideline for agricultural development that has been issued by the central government for 11 consecutive years, China will modify its grain prices and allow farmers to get subsidies based on market price differences.

(China Daily Africa Weekly page18)