Non-governmental capital to be transfused in Beijing's metro market

Beijing has decided to allow non-governmental investment into the capital's metro market in future, said Zhou Zhengyu, vice director of the Beijing municipal communications commission.

Four new metro lines under construction or to be constructed would be opened to social capital, said the official.

Zhou said the municipal government would be in charge of the construction of the metros while the management rights of the lines would go to social investors through public bidding.

Beijing was scheduled to spend 230 billion yuan (about 27.8 billion US dollars) in infrastructure construction from 2004 to 2008, in which 180 billion yuan (about 21.8 billion US dollars) would be spent on light rail and highway construction.

Zhou said introducing social capital into Beijing's metro market would make up the fund shortage of the municipal government.

He said that standards of the new ticket price system were under discussion.