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CN Further Improves Refined Oil Pricing Mechanism, Deepens Market-Oriented Natural Gas Price Reform
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To further deepen price reform and improve the price governance mechanism, the Chinese authorities recently issued the Opinions on Improving the Price Governance Mechanism, emphasizing the creation of a competitive and orderly market environment. The document calls for abolishing price policies that hinder the construction of a unified national market and fair competition, while preventing improper government intervention in price formation. It aims to foster a market environment conducive to effective price formation, promote fair grid access, facilitate equitable opening of oil and gas pipeline facilities, enhance railway connectivity, and accelerate the development of a multimodal transport service system that integrates rail, road, water, and civil aviation. The opinions propose deepening market-oriented price reforms. This includes advancing market-based reforms of on-grid electricity prices for various power sources in a category-specific and phased manner, steadily promoting the market formation of energy prices, capacity prices, and auxiliary service prices, and exploring complementary systems to ensure smooth reform progress. The refined oil pricing mechanism will be further improved, and market-oriented reforms of natural gas prices will be deepened. Efforts will also accelerate the enhancement of the coal market price formation mechanism. Supply and demand parties are encouraged to negotiate water supply prices for hydraulic projects based on market principles, with proactive steps to establish volume and price conditions for new hydraulic projects in advance. AAStocks Financial News |
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