An open and comprehensive system of fee and price listing will be fully implemented in China to regulate enterprise-related fees and improve the transparency of pricing policy, according to a senior official from the National Development and Reform Commission (NDRC) on June 28.

Before July 20, pricing departments at the provincial level will fully implement the fee listing system for operation and service charges involving enterprises, import and export and administrative approval that are determined and regulated by governments, said Shi Zihai, director-general of the NDRC’s Department of Policy Studies.

Shi said that this year, price authorities have taken a variety of measures to deepen the reform of the pricing mechanism, which have effectively cut costs of the real economy.

The significant decrease in electricity prices twice this year can reduce 47 billion yuan ($7 billion) in electricity fees for industrial and commercial enterprises. And the reduced charges for credit services and bank card payment will save some 8 billion yuan ($1.2 billion) annually for circulation enterprises, according to Shi.

He also said that new measures are on the way to expand pricing reform, such as the Opinions on Promoting Reform of Medical Service Prices, which was approved by the State Council. In addition, the tiered pricing system for residential water, electricity and gas will be further promoted to cover all provinces.