China NDRC announces cuts to commercial and industrial electricity prices

The National Development and Reform Commission of the People's Republic of China (NDRC), the countries state planner, came out with a statement on Thursday, announcing cuts to commercial and industrial electricity prices.

Key Highlights:

Announces cuts in electricity prices to commercial, industrial customers.

Cuts aimed at lowering company costs.

Markets are expecting that these measures could help stimulate the economic growth and turn supportive to China proxies such as the Aussie, Kiwi, etc.