Pric­ing re­form aims for mar­ket sys­tem

China Daily (USA) - - POLICY REVIEW - By ZHANG YUE zhangyue@ chi­

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, vicem­i­nis­ter 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.

Ac­cord­ing to the com­mis­sion, ef­forts will be in­creased to pro­mote mar­ket-ori­ented pric­ing re­form, im­prove su­per­vi­sion and al­low the pric­ing mech­a­nism to guide re­source al­lo­ca­tion in or­der to achieve high­qual­ity, ef­fi­cient, fair and sus­tain­able de­vel­op­ment.

The reg­u­la­tor has said it will fo­cus on sev­eral fields, in­clud­ing mo­nop­o­lized in­dus­tries, pub­lic util­i­ties and ser­vices, en­vi­ron­men­tal pro­tec­tion and agri­cul­ture, and will reg­u­late the pric­ing mech­a­nism based on the prin­ci­ple of “costs plus a rea­son­able re­turn”.

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