The free market pricing model for the airline industry in North America may allow for fluctuations in consumer costs, but recent changes in Chinese regulations could start affecting domestic travel in that country, for the first time.

In a recent joint statement by the Civil Aviation Administration of China and the National Development and Reform Commission, the state-regulated airfare price caps on domestic travel have been removed.

This resulted in an immediate increase in stock price for the largest carrier in Asia, by passenger volume, China Southern Airlines Company. Both state-owned airlines, Air China Limited and China Eastern Airlines Company saw their stock prices increase by as much as 10 percent, as well.

China has been moving towards more liberal business measures in recent years by removing price caps on certain routes, especially those competing directly with high-speed train service.

The CAAC’s announcement comes almost a full 2 years ahead of their previously announced pricing pledge.