China's Fuel Pricing Helps Stability, Securities Journal Says

China's controls on fuel prices are conducive to social stability, the China Securities Journal reported, citing a government official.

Accelerating reforms of the pricing system would worsen the impact of rising crude oil prices on China's farmers, the report said, citing Zhang Guobao, the vice chairman of the National Development and Reform Commission.

Zhang made the comments at a meeting of energy ministers in Japan on June 7, it said.

China caps fuel prices below global levels to limit their impact on inflation in the world's most-populous nation.