The State Reserves Bureau (SRB) is a Chinese government body that manages national strategic reserves and stabilizes prices of agricultural and other products in the market. It was established in 2016 and became part of the National Development and Reform Commission in 2018.
The SRB performs the following duties:
1. Hold and manage strategic reserves of grain, edible oils, cotton and pharmaceuticals.
2. Formulate grain purchase and storage policies, implement and supervise them.
3. Manage resource supply and demand of cotton, timber and other important resources across the country and conduct related price stabilization.
4. Develop national grain trading and options exchanges.
5. Support the handling of major price fluctuation of food and other products.
6. Do research on national grain reserve policies and suggest developmental solutions.
7. Research various agricultural technologies and provide support to the production of national grain and other products.
The SRB plays a critical role in managing the country’s reserves and stabilizing prices of agricultural and other products in the market. Its activities have enabled the country to ensure the stable supply of resources, promote the balanced development of the national economy, and safeguard the interests of the farmers and consumers, among other objectives.
In addition, the SRB also carries out emergency management and pricing activities to prevent and reduce the impact of disasters or emergency situations on the market. It is therefore often called upon to respond quickly to emergency needs, and to supply resources or adjust their prices to regulate the market.
Furthermore, the SRB participates in the international cooperation of grain reserves, advocating for the establishment of a world grain reserves system, and taking part in international supplies to ease global grain shortages.
The SRB is also dedicated to establishing an effective market-oriented grain pricing system in order to promote social fairness and protect farmers’ interests. It is entrusted with the power to set grain minimum purchase prices and subsidize other grain producers in order to prevent production losses caused by market volatility.
Overall, the SRB is responsible for managing the country’s reserves, regulating grain prices and stabilizing the market. Its activities are aimed at protecting the interests of the farmers, consumers and the country as a whole, and it is integral to the development and success of the national grain industry.
