China pledges investment in public transport

China will aim for public transport to account for 60% of all vehicles operating in larger urban areas in a bid to relieve increasing traffic congestion, Bloomberg reported. Beijing will assist the development of green, urban transportation and provide tax incentives and fuel subsidies for public transit vehicles, according to a State Council statement posted online on January 5. The current proportion of public transport use was not detailed. Certain shuttle services, such as those on airport and school routes, will be able to use public transport lanes and parking may be prohibited in busy areas. Local regulators should plan for one bus stop every 500 meters in the center of towns, the statement said. Transport providers should approach strategic financiers for funds and raise private capital via trust and equity investments, the State Council said, although overall financing budgets were not specified.