China tightens pricing regulation for upcoming holidays

2017-09-10
Xinhua

BEIJING — China’s economic planner will ensure forceful regulation of pricing regulations during the upcoming National Day and Mid-Autumn Festival holidays.

Local authorities must keep a close eye on food prices and watch out for pressure for price rises from hazardous weather and holiday consumption, according to a circular issue by the National Development and Reform Commission (NDRC).

Stores and restaurants in tourist spots must not raise ticket or product prices, and all goods and services must be clearly priced, according to the NDRC.

The same is required for transportation, e-commerce platforms and real estate developers and agents.

The National Day is on Oct 1 and is celebrated with a weeklong holiday. The Mid-Autumn Festival falls on Oct 4 this year.

About 1.2 trillion yuan ($185 billion) was spent on shopping and food during last year’s National Day holiday week, up 10.7 percent, according to the Ministry of Commerce.