China’s state planning agency saidon Wednesdayit cut electricity prices for commercial and industrial use by a total of 21.6 billion yuan (3.39 billion dollars) from May 1.
This is the second such cut within a month.
The National Development and Reform Commission lowered power prices for commercial and industrial consumers fromApril 1by an average of 10 percent.
This was a move to lower companies’ costs as Beijing aims to make the nation’s energy market more efficient. ($1 = 6.3699 Chinese yuan renminbi. (Reuters/NAN)
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