Oil price hikes to be compensated

The National Development and Reform Commission, China's main economic planner, says it will implement a series of measures to ease the effects of higher oil prices in order to stabilize the market.

Following a price hike, fuel surcharges for domestic airlines will be resumed. And the price of road transport will be adjusted by local governments. Local authorities are also required to adjust the price of taxis, and to provide temporary subsidies to taxi drivers beforehand.

Subsidies will also be provided to low-income groups from the state budget. And the price of public, rural, and rail transportation will be fixed at the existing level. According to calculations, the increase will raise the Consumer Price Index by 0.12 percent.