BEIJING - China will cut the price of aviation fuels by about 4 percent from Sunday, reflecting recent falls in international crude oil prices, according to an announcement from the National Development and Reform Commission.

The Commission announced the reductions on its website ( on Saturday. An accompanying table showed the ex-factory price of aviation fuels, including types 1 to 4 jet fuel, will fall by 200 yuan ($29.3) per tonne.

China's ex-factory price of type 1 jet fuel has been set at 4,940 yuan ($723.9) a tonne.

On Friday, an oil industry official told Reuters that China's aviation fuel market is likely to grow at 7-8 percent next year, quickening from this year but off the double-digit growth of recent years.

China National Aviation Fuel Holding (CNAF), parent of Singapore-listed China Aviation Oil, almost monopolises the country's jet fuel distribution sector.

Jet fuel makes up only 4 percent of China's total fuel market, the world's second-largest after the U.S.

($1=6.824 Yuan) (Reporting by Ben Blanchard and Chris Buckley; Editing by Bill Tarrant