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Beijing - China has lifted price controls on food as the government wrapped up a year-long battle to cool surging inflation.
The Cabinet's planning agency announced on Monday that it lifted controls on prices of food grains, cooking oil, port, beef, dairy products and eggs.
The controls were imposed in January as inflation blamed on shortages of pork, grain and other basic goods soared. But inflation has eased in recent months and the government now is more concerned about reviving slowing economic growth.
Instead, the government shifted resources toward its new goal of boosting slowing economic growth.
- AP