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NDRC announces new pricing regulations cut

The number of products and services that come under government pricing regulations will be cut by 80 percent, the National Development and Reform Commission announced on Wednesday. "Government pricing will be mainly limited to public services and the natural monopoly sectors," said Xu Kunlin, director general of the NDRC's price department. "The rest will be determined by the market." Products such as tobacco, chemical fertilizer, teaching materials, military products, and basic telecommunication services have been dropped from the government's pricing list.