The Central Committee of the Communist Party of China and the State Council jointly issued a document! Improve the price governance mechanism!

2025-04-23 10:34:13

Price governance is an important part of macroeconomic governance. In order to further deepen the price reform and improve the price governance mechanism, with the consent of the Party Central Committee and the State Council, the following opinions are put forward.

Recently, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council jointly issued opinions on improving the price governance mechanism.

First, the overall requirement

is to adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as a guide, thoroughly implement the spirit of the 20th National Congress of the CPC and the Second and Third Plenary Sessions of the 20th Central Committee, completely, accurately and comprehensively implement the new development concept, adhere to the people-centered development idea, adhere to the general tone of steady and progressive work, and strive to build a well-off society in an all-round way. Focusing on giving full play to the decisive role of the market in the allocation of resources and better playing the role of the government, we should improve the market price formation mechanism, innovate the price guidance mechanism, improve the price control mechanism, optimize the market price supervision mechanism, speed up the construction of a high-level price governance mechanism with effective market, proper regulation and scientific supervision, and improve the efficiency of resource allocation. Better serve the Chinese-style modernization drive. In

our work, we should adhere to the direction of socialist market economy reform, hand over prices that can be formed by the market to the market, promote the efficient and smooth flow of advanced and high-quality production factors, and effectively serve the construction of a unified national market. We should adhere to the concept of system and take comprehensive measures, coordinate the resources of both domestic and international markets, take into account both upstream and downstream links, strengthen the coordination and linkage of reform in various fields, and realize the rational formation of prices, the coordination and sharing of interests, the effective protection of people's livelihood, and the efficient and transparent supervision. We should adhere to problem orientation, reform and innovation, focus on key areas and key links, effectively solve the difficult problems of price governance, make prices fully reflect the relationship between supply and demand in the market, and enhance the flexibility of price response. We should persist in managing prices according to law, improve price laws and regulations, improve the scientific level of price management, and standardize the price behavior of business entities.

2. Improving the market price formation mechanism

to promote efficient allocation of resources (1) Deepening the market-oriented reform of prices. Promote the market-oriented reform of on-grid electricity prices of various types of power sources in a rhythmic manner, steadily and orderly promote the formation of electricity prices, capacity prices and ancillary service prices from the market, and explore the establishment of supporting systems to promote the smooth progress of reform. We will improve the market-oriented pricing mechanism for trans-provincial and trans-regional power transmission. We will accelerate the improvement of the power grid agency purchase system and promote more industrial and commercial users to participate directly in market transactions. We will further improve the pricing mechanism for refined oil products and deepen the market-oriented reform of natural gas prices. Speed up the improvement of the coal market price formation mechanism. Supply and demand sides are encouraged to negotiate and determine the price of water supply for water conservancy projects in accordance with the principle of marketization, and actively promote new water conservancy projects to clarify the conditions of quantity and price in advance. Liberalize the price of passenger transport on civil aviation domestic routes with competitive conditions.

(2) Accelerating market construction in key areas. Promote the construction of important commodity spot and futures markets, optimize the rules of listing, trading and supervision of futures varieties, and consolidate the basis for market price formation. We will develop oil, gas, coal and other trading markets in an orderly manner. We will improve the multi-level electricity market system, improve trading rules and technical standards, promote the construction of medium and long-term, spot and ancillary service markets for electricity, and foster diversified competitors. Improve the management system of electricity sales market.

(3) Creating a competitive and orderly market environment. Abolish price policies that hinder the construction of a unified national market and fair competition, and prevent improper government intervention in price formation. We will create a market environment conducive to the effective formation of prices, promote the fair access of power grids, promote the fair opening of oil and gas pipeline network facilities, the interconnection of railway lines, and accelerate the improvement of the multimodal transport service system in which railways, highways, waterways, civil aviation and other modes of transport are coordinated and linked; effectively regulate the business scope of natural monopoly enterprises, and prevent the use of monopoly advantages to extend to upstream and downstream competitive links. We will strengthen price supervision over network-based natural monopoly links such as power transmission and distribution and natural gas pipeline transportation. Standardize the formation of drug prices, promote enterprises to operate in good faith, and promote open, transparent, fair and reasonable prices.

3. Innovating the price guidance mechanism

for the development and safety of key service areas (4) Improving the agricultural price policy to promote the stable and safe supply of grain and important agricultural products. We will improve the income guarantee mechanism for grain farmers in coordination with policies such as price, subsidy and insurance, and improve policies such as the minimum purchase price for rice and wheat and subsidies for corn and soybean producers. Optimize the target price policy of cotton. We will stabilize the supply of policy-based pig insurance and encourage local governments to explore and develop vegetable and other varieties of insurance according to local conditions. We will deepen the comprehensive reform of agricultural water prices and continue to improve the mechanism for ensuring supply and stabilizing prices of agricultural materials such as chemical fertilizers. We will improve the price formation mechanism for the transfer of contracted land management rights.

(Five) improve the energy price policy to promote green and low carbon transformation. Establish and improve the price mechanism of natural gas power generation, energy storage and other regulatory resources, and better play a supporting role in building a new power system. We will improve the price policy for new energy nearby transactions and optimize the price mechanism for incremental distribution networks. Considering energy consumption, environmental protection level and other factors, we should improve the ladder electricity price system in key industrial areas. We will improve the carbon pricing mechanism with the national carbon emissions trading market as the main body. Explore price support policies that are conducive to promoting carbon emission reduction. We will improve the national unified green power certificate trading system. Building international standards and certification mechanisms for green energy.

(Six) improve the price mechanism of public utilities to promote sustainable development. We should clarify the boundaries between government input and user fees, strengthen enterprise cost constraints and revenue supervision, comprehensively assess cost changes, quality and safety, fully consider the affordability of the masses, and improve the dynamic adjustment mechanism of public utilities prices. We will further promote the linkage between upstream and downstream prices of natural gas. Deepen the reform of urban heating prices. We will accelerate the transformation of heating metering, carry out heating metering and charging in an orderly manner, and take the lead in implementing public buildings and new residential buildings. Optimize the residential ladder water price, electricity price and gas price system. We will promote progressive price increases for non-resident water consumption exceeding the quota, metering and charging for garbage disposal, and optimize the charging policy for sewage treatment. According to local conditions, we should improve the charging policy of urban underground comprehensive corridors and improve the differential parking charging mechanism. Optimize the price policy of railway passenger transport, improve the unified price system of railway freight transport, and standardize the settlement of railway network charges.

(seven) improve the price policy of public services to promote balanced and accessible. Charges for basic services in public pension, nursery and medical institutions shall be managed by government guidance prices. Private inclusive pension and nursery institutions charge for basic services, and strengthen guidance by implementing government-guided price management or setting reference intervals. Strengthen the management of inclusive kindergarten fees, strengthen the supervision of school service fees and fees, and establish a dynamic adjustment mechanism of high school and higher education fee standards in line with the level of financial allocation and subsidies. Strengthen the management of funeral service charges.

(8) Innovating public data price policies to promote the development of digital economy. Establish and improve the data market rules that meet the needs of the development of digital economy. We will accelerate the formulation of price policies that conform to the characteristics of public data elements and promote the safe and efficient development and utilization of public data. In the authorized operation of public data, the public data products and services used for public governance and public welfare are conditionally free of charge; the public data products and services used for industrial development and industry development are conditionally paid for use, and the charging standards are determined and dynamically adjusted in accordance with the principle of cost compensation and reasonable profit.

4. Improving the price control mechanism

to keep prices at a reasonable level (9) Strengthening the control of the overall price level. Taking into account factors such as aggregate supply and demand, economic growth, market expectations and imported impacts, we should rationally set the target of price level and strengthen the guiding role of macro-control. We should coordinate the expansion of domestic demand and deepen the structural reform of the supply side, strengthen the synergy between price policy and macro-policies such as fiscal, monetary, industrial and employment policies, and enhance the effectiveness of overall price control.

(10) Consolidate the foundation of price stability of important commodities. Focus on the whole chain of production, supply, storage and marketing, and improve the long-term mechanism to promote market price stability. We will strengthen regulation and control of production capacity, adjust and optimize the production structure, improve supporting policies, and maintain a basic balance between supply and demand in the market and stable prices. Speed up the improvement of the national reserve system. Establish and improve the guiding price range control system for important commodities related to the national economy and people's livelihood.

(11) Strengthen emergency regulation and control of abnormal fluctuations in prices of important commodities. Strengthen the joint supply of important commodities between major production and marketing areas and between adjacent areas as a whole. Optimize the emergency logistics support system to ensure the smooth operation of key transport corridors and the stable operation of transport hubs. Timely and effective emergency regulation and control of abnormal price fluctuations should be carried out, reserve regulation should be strengthened, expected management and market supervision should be strengthened, and prices should be guided to run smoothly. We will implement the linkage mechanism between social assistance and security standards and rising prices to ensure the basic livelihood of the people in need.

5. Optimizing the transparent and predictable market price supervision mechanism

(12) Regulating market price behavior. We should strengthen ex ante guidance, prevention and ex post supervision to maintain market price order. Comprehensive use of announcements, guidelines, reminders and warnings, administrative guidance, cost investigation and other means to promote the operation of business entities in accordance with the law. Prevent operators from vicious competition at prices below cost. For a small number of important commodities and services that are regulated by the market but closely related to people's lives, we should explore the formulation of price behavior rules and supervision measures.

(13) Strengthen price supervision and inspection. Focusing on important commodities and services with high social concern, we should intensify price supervision and inspection, and investigate and punish price violations according to law. Anti-monopoly supervision and law enforcement should be strengthened to prevent and stop monopolistic acts by operators. Strengthen the supervision of price charging behavior in key areas such as transportation, tourism, education and network transactions, and do a good job of inspection and inspection in key periods.

(14) Promoting efficient co-governance. Strengthen the coordination of self-discipline, social supervision and government supervision, and improve the multi-governance model. Establish and improve the cross-sectoral joint supervision mechanism, strengthen online and offline, spot and futures linkage supervision, and form a joint regulatory force. Establish and improve the long-term supervision mechanism of fees related to enterprises. We will improve the social price supervision system and explore the establishment of a price supervisor system in important commodity spot trading places and trade associations. Promote the construction of price credit system, improve the supervision of price credit, and implement joint punishment for dishonesty in accordance with the law and regulations.

6. Strengthen the basic capacity building

of price control (15) Improve the price monitoring and early warning system. Optimize the price monitoring and reporting system, enrich monitoring varieties, innovate monitoring methods, expand monitoring channels, improve the level of monitoring informatization, improve the monitoring, analysis and early warning mechanism covering domestic and foreign, production, supply and marketing, futures and spot, and enhance timeliness and pertinence. Improve the release of price information and stabilize market expectations.

(16) Strengthen cost supervision and investigation. We should adhere to the separation of examination and approval, strengthen the independence of cost supervision, and give full play to the basic role of cost supervision and investigation. We will improve the cost supervision and examination methods and operating procedures for different industries, and establish cost control rules for key areas such as power transmission and distribution. Effective cost constraints should be strengthened to promote the extension of cost supervision from ex post supervision to ex ante guidance. We will build an incentive mechanism to promote cost reduction and efficiency enhancement, and explore the establishment of benchmarking cost systems for important industries. We should strengthen the cost investigation of important commodities and explore the establishment of a cost reporting system. Promote the informatization construction of cost supervision and investigation. We should improve the cost survey system of agricultural products and strengthen data sharing.

(Seventeen) improve price laws and regulations. To meet the needs of price control, we should speed up the revision of laws and regulations such as the Price Law and administrative penalties for price violations, formulate and improve rules and regulations on government pricing, price regulation, price supervision and inspection, and dynamically revise the central and local pricing catalogues.

7. To strengthen the organization, implement

and improve the price governance mechanism, we must adhere to the overall leadership of the Party and the centralized and unified leadership of the Party Central Committee, and implement the leadership of the Party in all areas of price governance. All departments in various regions should attach great importance to price management, earnestly strengthen organizational leadership, and implement this opinion in light of actual conditions. We should seriously study the new situations and problems arising in our work, steadily and orderly promote the implementation of various deployments, rationally grasp the timing and rhythm of reform, timely summarize and evaluate, and study and improve the bottom-up safeguard policy. We should actively respond to social concerns and strengthen the interpretation of price policies. Major matters shall be reported to the Party Central Committee and the State Council in a timely manner in accordance with the procedures.

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