According to a statement by the NDRC, China is pushing forward market reforms in gas prices. It aims to liberalize price competition in natural gas by 2017.

Along with cutting prices this time, Industry players are allowed to raise gas prices by 20 percent based on supply and demand of non-residential natural gas prices. The NDRC did not set a limit for downward adjustment. Energy experts in China say this is a positive step for China towards building a more comprehensive market mechanism for natural gas.

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