Updated By: LatestGKGS Desk
China ends monopoly on 2000 year on salt, invites FDI in salt
China invites foreign companies to enter in market of salt, invites private companies to enter in market
China begins to ease its 2000 year old monopoly on Salt and will allow the private sector companies to enter into salt market.
The wholesalers will be allowed to trade away from their restricted place and make distribution according to the present scenario.
The government of China will supervise the market for instabilities in the market but the prices will be set by the market according to demand and supply.
Now the prices will be set by the market
With regard to the decision the observers believe that there is an expectation of fall in prices and new products of salt will enter in market.
With the ongoing competition, China has taken the decision to end the monopoly and allow private firms to enter into competition.
China from many years has made the market stable by proper production and trade of salt from 2000 years and the prices and arrangement of salt were set by the communists.
China will also allow the foreign companies to enter into market.
