China may adopt reforms on resource product prices in the second quarter, the National Business Daily reported Friday, citing between the lines of a statement issued by the country's top economic planner.
The National Development and Reform Commission revealed a statement on its website Thursday, predicating that food, edible oil and pork prices would remain basically stable and CPI would rise by 2.5 percent in the second quarter.
"In order to boost resource conservation and environmental protection, China will continue to push the reform on resource product prices and environmental protection charges this year. Prices of essentials such as water, electricity, petroleum and gas will see moderate rises", the statement said.
China has been stressing that a reform on resource product prices was necessary, and the Q1 CPI figure, which was released Thursday, "looks pretty good," an expert told the paper on the condition of anonymity. The expert said the best timing for the reform would be the second quarter and gas might jump start the reform with a minute price adjustment, considering the need to control inflation.
