The National Development and Reform Commission of the People’s Republic of China (NDRC) is China’s ‘state planner’.
The NDRC has announced a measure that should serve as a form of stimulus:
- Gasoline and diesel prices will both be reduced by 100 yuan per tonne
This is not a surprise from the NDRC, under the current pricing mechanism, prices of refined oil products are adjusted in accordance with changes in international crude oil prices.