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Food Industry baffled by Information Asymmetry
Time：2015-06-01 15:16:39
Dr. Junshi Chen, the member of Chinese Academy of Engineering made a remark on May 18 for the 2015 Summit Meeting of Chinese Food Industry Development, emphasized that one of the main reasons for the perplexed food safety scenario is the information asymmetry which baffled food industry and broke down the market confidence in the past. However, some provisions on risk communication had been included in the new updated Food Safety Law which could be anticipated a dramatic progress in the future.
There are at least five provisions related to risk communication, scientific education and information exchange in the new law. Dr. Chen said, those provisions stipulated the respective role that the government and industry have to play in risk communication. For mass media, to serve as both social watchdog and public welfare advocate is important for food safety risk communication. If all the provisions could be implemented effectively and the report coverage could be based on facts and unbiased principle, the gloom of information asymmetry will be relieved.
Nevertheless, we are facing a series of challenges in the process of implementation. Dr. Chen stressed, lack of relevant guideline, expertise and resources could be the barriers for an effective risk communication. For instance, some people have not recognized the importance of information transparency, although it is required by the law that the government and academic institutions are obliged to publish the information on risk assessment and risk management in a timely and open manner.
Resource: Economic Daily, 2015/05/25
