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China's NDRC to strengthen oversight of price formation in monopoly sectors

( September 1, 2017, 03:10 GMT | Official Statement) -- MLex Summary: The Chinese government has called for an improved mechanism for price formation in monopoly sectors such as electricity transmission and distribution, piped natural gas transmission, railways, and residential water, gas and heat supply. According to a set of opinions published today on the website of the National Development and Reform Commission, the pricing authority will strengthen supervision of government-set prices in monopoly sectors, which consist of permitted costs plus reasonable profits, in a bid to substantially lower highly priced services, reduce costs for businesses and enhance production efficiency in monopoly sectors.The NDRC's document follows:...

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