Timetable set for reform of pricing mechanism
China will lift price controls on basically all goods and services in competitive sectors by 2017, according to guidelines released by the State Council.
By then, government- set prices will only exist for key utility services, public-good programs and network industries featuring natural monopolies, such as electricity and water supply.
Last month, a State Council executive meeting decided to reduce the categories of government-set prices from 13 to seven, bringing the total number of items subject to price restrictions down from nearly 100 to 20.
Six major areas were highlighted: energy, environment, farm produce, health care, public services and transportation.