NDRC unshackles prices for a new slew of commodities and services

China’s National Development and Reform Commission (NDRC) has freed the prices of 24 commodities and services, Reuters reported, citing a document issued last month and announced publicly on the NDRC’s website late Sunday. The document removed price controls on tobacco, the final agricultural product for which prices remained under government control, according to the announcement. The NDRC statement also indicated that prices of railway bulk cargo, parcels and privately funded cargo and passenger transport had also been allowed to freely float; prices of domestic air cargo, passenger transport of some airlines and port service fees were also allowed to be set by the market.