China's top economic regulator on Saturday issued a notice to promote the reduction of business-related charges for power and natural gas, as part of its wider drive to support enterprises to resume work and fight the novel coronavirus pneumonia outbreak.

The country will lower enterprises'electricity price by 5 percent from Feb 1 to June 30, excluding energy-intensive industries, the National Development and Reform Commission said in the notice. And the earlier released price-reduction policy will also last until June 30.

It is estimated that the price-reduction policy would benefit about 50 million users and reduce the companies' power utilization costs by 59 billion yuan ($8.4 billion) during that period.

NDRC also said it will implement off-season natural prices earlier, without giving a specific time frame on when it will take action. Usually, the off-season natural gas prices will be implemented from mid-March to mid-November.

According to the NDRC, it will offer more favorable gas prices for agricultural industries, such as chemical fertilizers. And it encourages natural gas production and operation companies to fully negotiate and communicate with gas consumption enterprises in the downstream industry in accordance with market conditions.

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