Bus firms subsidized
Source: Shanghai Daily |
March 31, 2015, Tuesday
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Print Edition
Print Edition
MOST of the revenue generated from the city’s car plate auctions has been used to subsidize public bus companies, according to a report by Shanghai Finance Bureau yesterday. The total income from the monthly auction last year was 7.75 billion yuan (US$1.25 billion). Four billion yuan was given to the bus operators as subsidies. The rest was invested in infrastructures and senior citizen discounts.
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