China urges to stabilize market prices

The top economic planning body has urged local governments to maintain stable market prices. This comes shortly after it raised refined oil prices by about ten percent last week.

The National Development and Reform Commission has called for close supervision of domestic refined oil markets. It has also called for effective measures to secure product supply. Transport companies have been warned not to use the price hike as a pretext to raise their prices.

Meanwhile, the Commission says local governments should take measures to minimize the impact of the price hike on the public. It advises either temporary subsidies or increasing the minimum subsistence allowance to low-income families.

Editor:Xiong Qu