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China cuts fuel prices again as economic slowdown bites
Published: 8th Jun 2012 13:56:28
China's price-control body, the NDRC, is reducing petrol and diesel prices by 5% from Saturday.
The second cut in a month reflects sharp falls in world crude oil prices.
On Thursday, China's central bank cut the cost of borrowing for the first time for four years amid fears of a sharp economic slowdown
Many fear the world's second biggest economy is faltering, and economic data for May, due to be released on 9 June, is expected to be disappointing.
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BBC News, 2012. China cuts fuel prices again as economic slowdown bites. [Online] (Updated 08 Jun 2012)Available at: http://www.manchesterwired.co.uk/news.php/1433495-China-cuts-fuel-prices-again-as-economic-slowdown-bites [Accessed 26th May 2013]
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