Timetable set for re­form of pric­ing mech­a­nism

China Daily (Canada) - - NEWS CAPSULE -

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.

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