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China to reduce more price controls on govt catalog

Updated: May 6,2015 6:53 PM     Xinhua

BEIJING — China will further lift controls on the prices of commodities and services, said the National Development and Reform Commission (NDRC) on May 6.

The central economic planner has opened the new price catalog to the public for comment from May 6 for a period of two weeks.

The revised catalog will reduce price controls to only 7 major categories — natural gas, water supply, electricity, special medicines and blood, important transportation services, postal services and certain professional services.

Since the previous government price catalog in 2001, nearly 46 percent of the categories and 80 percent of items have seen reductions, said Xu Kunlin, head of NDRC price department.

China has already relaxed its grip on medicines, telecom services, tobacco, transportation services, chemical fertilizer and military products, said Xu.