BEIJING - Chinas gasoline prices will be cut by 230 yuan ($33.7) per tonne and diesel prices by 220 yuan per tonne from Tuesday, the National Development and Reform Commission (NDRC) announced Monday. The price cuts came after a record high in price hikes in April. The previous price cut was in September 2009. Related readings: China raises retail prices of gasoline and diesel China raises gasoline, diesel prices China cuts gasoline, diesel prices Gasoline, diesel prices likely to go up again Before the adjustment, the benchmark price of gasoline was 7,420 yuan per tonne and diesel 6,680 yuan per tonne. Cao Changqing, head of price department of the NDRC, said the adjustment was timely and in a proper amount in response to recent changes in the international crude oil prices. International crude oil prices had been rising before May, when they began to decline, the NDRC statement said. The recent drops had amounted to 4 percent, meeting price adjustment conditions, it added. Cao said the move was also based on the global and domestic economic situations and oil supply and demand as well as the countrys pricing mechanism. In 2009, China adopted an oil pricing mechanism that allows the NDRC to adjust retail fuel prices when the international crude oil price changes by more than 4 percent over 22 straight working days The government would raise benchmark prices for domestically-produced onshore natural gas by 230 yuan per thousand cubic meters, or 24.9 percent, to 1,155 yuan per thousand cubic meters because of relatively low prices and strong demand, he said.   Authentic Kirk Mclean Jersey Formed in November 1917, the National Hockey League (NHL) began as a humble organization consisting of five Canadian clubs with players earning less than C $1000 a year. In contrast, the NHL of today is an international multi-million dollar sport Christian Ehrhoff Finals Jersey It seems that a possible package of draft picks, players, and cash could move the Bulls up the draft list, especially if they are willing to take on some salary. A team like the Houston Rockets at No. 14 might be willing to part with their pick, and then there is the Utah Jazz at No. 12. Utah already has the No. 3 pick in the draft (from New Jersey), so they might be willing to part with that second pick in a package deal. It would be interesting to see what the Jazz said to an offer of both the Bulls first round picks for that No. 12 selection. Authentic Marc Savard Jersey Also known as Westmount Arena, this rink hosted the first two games in NHL history, both on December 19, 1917 Authentic Tyler Seguin Jersey Dallas assistant coach Dwane Casey, who lost out on the Houston job to Kevin McHale, could be a candidate for the just-vacated Toronto job. The Raptors did not renew the contract of Jay Triano and could be seeking an inexpensive and dynamic replacement . . . Guillermo Rodriguez, the hilarious security guard from the Jimmy Kimmel show, made his annual Finals appearance and got in a few questions for Dallas point guard Jason Kidd . . . Game 1 of the Finals generated a 10.7 overnight rating on ABC, the highest for an opening game in the league’s title series since 2004. Mats Sundin Jersey Dallas assistant coach Dwane Casey, who lost out on the Houston job to Kevin McHale, could be a candidate for the just-vacated Toronto job. The Raptors did not renew the contract of Jay Triano and could be seeking an inexpensive and dynamic replacement . . . Guillermo Rodriguez, the hilarious security guard from the Jimmy Kimmel show, made his annual Finals appearance and got in a few questions for Dallas point guard Jason Kidd . . . Game 1 of the Finals generated a 10.7 overnight rating on ABC, the highest for an opening game in the league’s title series since 2004. Ctrip.com International Ltd, an online travel service provider, plans to invest $88 million to acquire a 90 percent stake in a travel service unit of Wing On Travel (Holdings) Limited of Hong Kong, the company said in a statement yesterday. Ctrip hopes to strengthen its market position in Hong Kong through the acquisition of the tourism unit of Wing On, which has been offering travel-related services for more than 40 years. The investment by the NASDAQ-listed company will be subject to several factors, including approval from the shareholders of Wing On Travel. With more than 17 million tourists from the mainland traveling to Hong Kong every year, the city has become a key tourist destination. Ctrip will try to expand business in Hong Kong and the Asian tourism market, with the support of Wing On Travels mature business operations, Fan Min, CEO of the Shanghai-based company, said in a teleconference yesterday. Even though the business scale of Wing On Travels tourism department is small compared with Ctrips, the companys Chief Financial Officer Sun Jie said she believes that the deal will improve their bottom line. The acquisition is expected to boost Ctrips profits by 5 percent annually. If the deal moves forward, the acquisition will be completed within four to six months. Related readings: Tourism to exceed 1.44 trillion yuan in 2010 Ctrip releases most popular tourist destinations for Golden Week Ctrip Q2 net profit soars 33% HK gets 7.25 million mainland tourists from Jan-May According to Ctrips newly released 2009 financial statement, total revenues were from three major segments, hotel bookings, airline tickets and travel-related services. Last year, airline ticketing reported 25 percent year-on-year growth, accounting for $140 million in revenue, while hotel bookings reported 35 percent year-on-year growth, accounting for $130 million in revenue. Tourism revenue was up 62 percent year-on-year, becoming the fastest-rising revenue stream for Ctrip. Since Ctrips tourism business has grown at a staggering rate, acquisition of Wing On unit will definitely contribute to the development of their tourism department in the future. Thats also one of the major reasons for Ctrip to acquire the travel agency, Ma Xing, Ctrips public relations manager, told China Daily. Kevin Zhang, market analyst at Thomson Reuters said: With more and more airlines providing hotel and airline booking services - which previously accounted for the majority of Ctrips revenues - Ctrip has to develop other business segments to maintain its dominance in Chinas travel industry. Thats may be another reason for the acquisition. ' ' '