The Beijing News:

The data released today also showed that pork prices fell by 28% year-on-year in the first three quarters. Recently, pork prices have been declining, and farmers have suffered losses, especially during the National Day holiday. Pig prices across the country have repeatedly hit new lows, and farmers are becoming more and more panicked. What negative impact will this have on the pork supply in the next period? What about pork price trends in the future? Thank you.

Fu Linghui:

Thank you for your questions. Since the beginning of this year, live pig production has continued to recover, production capacities have continued to expand and related prices have declined. In general, in the next stage, as the demands for meat pickling in some areas continue to increase, coupled with consumption boosts from the New Year's Day and Spring Festival holidays, the demands for pork consumption will increase. At the same time, the second round of frozen pork procurement and storage by the central government will be launched during the year, which is conducive to the stability of pork prices.

In terms of future development, the current large-scale breeding of live pig production is continuously expanding. These large-scale enterprises are improving their ability to grasp market changes and prevent and respond to market fluctuation risks. At the same time, we see that for the live pig market, the national regulatory and control mechanism is constantly improving, which is conducive to the stability of live pig production. Thank you.

Shou Xiaoli:

Thank you, Mr. Fu Linghui, and thank you media friends. This is the end of today's press conference.

Translated and edited by Wang Qian, Zhu Bochen, Duan Yaying, He Shan, Yang Xi, Li Huiru, Gao Zhan, Chen Xia, Wang Mengru, Huang Shan, Xiang Bin, Yuan Fang, Qin Qi, Zhang Rui, Ma Yujia, Wang Wei, Zhang Tingting, David Ball, Jay Birbeck, and Tom Arnstein. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.