BEIJING - CHINA is expected to reform its oil pricing mechanism within 20 days as part of efforts to reduce consumption and air pollution, state media reported on Wednesday.

The China Daily quoted on its website an anonymous source 'close to Beijing's top decision-making circles' as saying the new price system would be released within 20 days.

'The aim is to complete China's fuel tax reform and to encourage energy conservation and emission control,' the website quoted a source as saying.

The paper noted that China's prices for refined oil products have so far been under government regulation.

China has said it wants to shift to an economic growth model that pollutes less and is more energy-efficient, but experts say it still has much to do to achieve that ambition. -- AFP