Procedures for Government Pricing Acts

The Procedures for Government Pricing Acts
(I) Basic requirements
Price and cost surveys should be conducted, and the opinions of consumers, business operators, and relevant parties should be sought.
(II) Price hearing system
Article 23 of the Pricing Law states that when establishing government referential pricing and government pricing for public utilities, public welfare services, and goods under natural monopoly that are significant to the immediate interests of the people, a system of hearings, which shall be presided over by the pricing authorities, shall be established to solicit opinions from consumers, business operators, and relevant parties, and demonstrate the necessity and feasibility of such pricing.
 
IX. Meaning of General Price Level (Macro Price)
The general price level is the comprehensive weighted average level of prices of all goods and services in the whole society during a certain period of time. It reflects the overall supply and demand relationship and the basic situation of the national economy, and is an economic parameter that comprehensively reflects the price changes. General price level (macro-price) regulation is an act of the State intervening in the changes of the general price level through legal, administrative, and economic means.
 
X. Purpose and Significance of Macroeconomic Regulation of Prices
Maintaining the basic stability of the general price level through regulation is an important condition and basic guarantee for the coordinated, healthy, and sustainable development of the national economy and social stability, and as well as an important goal of the State's macroeconomic policy.