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China sharply reduces the price of gasoline to support the economy

Китай резко снижает цены на бензин для поддержки экономики

The authorities of China for the fifth consecutive time to reduce retail prices for gasoline and diesel fuel in a slowing of the national economy that suffers from a trade war with the United States.

According to “Xinhua”, from the beginning of 2019, the price per ton of gasoline and diesel fuel in China will decrease by 370 and 355 yuan respectively.

The decision was taken by the State Committee on Affairs of development and reforms of the PRC in connection with the fall in world prices for “black gold”.

In accordance with China’s mechanism, if international crude prices change more than 50 yuan and remain at this level within 10 working days, the domestic market price of petroleum products, including gasoline and diesel fuel, is adjusted accordingly, writes Finanz.ru.

At the same time the people’s Bank of China is preparing new measures to support small businesses.

Under the new regulations of the Central Bank, for small businesses will include companies with loans amounting to 10 million yuan (1.5 million dollars).

 

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