Skip to main content

Advertisement

Advertisement

Business

China's state planner says will probe coal and energy price index providers

China's state planner says will probe coal and energy price index providers

FILE PHOTO: A coal-burning power plant can be seen in the city of Baotou, in China's Inner Mongolia Autonomous Region, October 31, 2010. REUTERS/David Gray/File Photo

BEIJING : China's state planner said it will probe coal and energy price index providers for publishing false and manipulated prices, spreading rumours and fabricating indexes, in another measure to cool prices of the fuel amid a power crunch.

The National Development and Reform Commission (NDRC) said in a statement on Monday that prices from some consultancies were completely deviating from supply/demand market fundamentals and seriously damaging public interest.

NDRC will check for compliance, will summon index providers and punish irregularities with measures such as suspension of publication or inclusion onto a blacklist.

(Reporting by Shivani Singh and Judy Hua; editing by Richard Pullin)

Source: Reuters

Advertisement

Also worth reading

Advertisement