Industrial gas prices to increase by 20%

The wholesale price of natural gas for industrial users will rise 20 percent on Sept 1, signaling that China is accelerating market-oriented pricing reform despite a slowing economy.

The price will increase by 0.4 yuan (0.065 cents) per cubic meter, resulting in an average price of 2.35 yuan to end-users.

It will be the first hike since July 2013, when the National Development and Reform Commission announced a 15.4 percent increase.