Pricing reform aims for market system

The National Development and Reform Commission, the top economic planner, has decided to further deepen pricing reform in monopolized industries, such as electricity, natural gas and railways, as the central government looks to perfect its market-oriented pricing mechanism by 2020.

China will improve trading rules and regulations for the electricity market, deepen the market-based reform of natural gas prices for nonresidential users, and accelerate construction of natural gas trading centers in Shanghai and Chongqing, Hu Zucai, vice-minister of the NDRC, said on Friday.

A favorable pricing policy environment will be created to attract social capital to projects related to railway construction and operation, he added.