The surging price of raw materials in recent months, including iron ore, put many of China’s small businesses in dire straits. Photo: AFP
The surging price of raw materials in recent months, including iron ore, put many of China’s small businesses in dire straits. Photo: AFP

China’s commodities traders in Beijing’s crosshairs after driving up prices and putting economic recovery at risk

  • Speculative reselling of commodities and tax evasion have dangerous economic implications for China, and now a task force aims to hold violators accountable
  • Crackdown comes as China has struggled in recent months to curb surging prices of raw materials amid its strong post-pandemic industrial recovery