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News

Beijing subway fares will be increase

  • Author:Lisa
  • Source:www.tigloncn.com
  • Release on :2014-10-30
Low fares are a boon for residents, especially those who cannot afford sky-high property prices in central Beijing and commute long distances to work.

But the cheap fares also constitute a large and growing cost for the municipal government. Last year it increased the annual subsidy given to the system’s operator, Beijing Infrastructure Investment, more than 50 per cent to Rmb15.5bn.

Beijing’s municipal government has warned users of the world’s largest subway system that fare increases could more than double the cost of an average commute.

The change was part of efforts to expand usage of public transport to more than 40 per cent of daily journeys – a strategy further undermined by China’s emergence as the world’s largest automotive market during the depths of the global financial crisis.

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