China’s National Development and Reform Commission (NDRC) has responded to recent media reports claiming that the central government body had approved Yihai Kerry’s move to lift cooking oil prices and that this represented an end to earlier "price restrictions" imposed by the NDRC. A spokesperson for the Price Division of the NDRC said such reports had no basis in fact and emphasized that no price restrictions were ever placed on cooking oil. Furthermore, the official said that there was no approval of an application to raise prices as the price of cooking oil is set by the market and are decided by enterprises themselves.

Source
Economic Observer Online

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