Reuters and staff reporter

China's top economic planning agency said yesterday that it was taking steps to allow clean power prices to be decided by the markets, indicating that the world's second-largest economy would scale back subsidies for renewable energy projects.

China's National Development and Reform Commission said together with China's energy administration it had issued "market-oriented" changes to policies intended to encourage clean energy projects.

The NDRC said China's clean energy capacity of all kinds had reached more than 40 percent of the economy's total energy generation capacity, in part because of the support of a system that guaranteed prices for renewable energy sold to the grid.