China Sharply Cuts Gas Price for Non-Residential Users

China's National Development and Reform Commission (NDRC) on Wednesday announced a deep 25 percent cut in city gate gas prices for non-residential users.

Country’s top economic planner said non-residential natural gas prices at city gate stations will be cut by 700 yuan ($110) per thousand cubic meters. The new price regime will come into effect Friday.

The NDRC has also allowed non-residential players to raise gas prices by 20 percent based on supply and demand but has set no downward limit.

NDRC stated that this move would promote open and transparent trading of natural gas.