Driving into China’s parking mess

Eager for some fine food, Colin Lee, a public relations (PR) executive, recently went to a Vietnamese restaurant with friends. Their experience, however, got off to a horrible start when they could not find a place to park. “It always happens, no matter what I am doing! It is quite different from the situation abroad!” said Lee, who worked in numerous countries over the past decade. “Addressing the parking situation is crucial for the development of cities. I cannot bear the mess any more.” The problem of which Lee speaks is becoming a daily occurrance for virtually every motorist in China’s large and medium-sized cities. The conflict — the increasing number of cars versus the lack of parking places — is severe. But what can be done? Experts suggest parking in China must be industrialized; in other words, parking facilities must be constructed and operated by businesses. Due to improved living standards, falling vehicle prices and China’s bulging, “new white-collar” segment of the population, an increasing number of urban Chinese now own personal vehicles. National Bureau of Statistics figures indicate China’s output of automobiles will rank No 3 — behind the United States and Japan — in the world by next year. Output of automobiles in China is expected to exceed 10 million units by 2010. Many of China’s large cities are coping with parking-related issues. Statistics indicate there are nearly 2.02 million motor vehicles registered in Beijing, and that figure is expected to reach 5 million by 2008. Those figures do not take into account the number of vehicles in Beijing from other provinces, cities and counties. However, there are only public 600,000 parking places in downtown Beijing, indicates www.people.com.cn. The parking lot at Cuiwei shopping mall, for example, can accommodate a mere 100 vehicles. But during an average day, up to 1,000 vehicles might park in the lot, a manager of the mall said. In Southwest China’s Chongqing Municipality, there are more than 500,000 vehicles. The municipality, meanwhile, has a meager public 528 parking lots in sowntown, with a combined 38,000 parking spaces. In China’s developed cities, such as Beijing, Shenzhen and Shanghai, public parking places are sorely needed. The ratio of vehicles to the number of parking places is about 5:1, indicate China Heavy Machinery Association’s data. “City parking is an industry, not an administrative task of the government,” said Jia Xinguang, a senior analyst with the Beijing-based Automobile Industry Research Centre. As part of the public facilities in a city, parking should be combined with the city’s development and regulation, the expert said. “If a city wants to operate smoothly, it needs necessary facilities, which include parking facilities,” Jia added. At present, however, parking lot construction in China is managed by local governments’ communications departments. Every transportation department has its own administrative area, and that is preventing the industrialization of parking in China. However, the local governments still don’t pay enough attention to the issue. “The government often focuses on the dynamic transportation, or traffic rules, but ignore the static transportation, or parking” said Ren Bomiao, director of the China Heavy Machinery Association’s Parking Facility Committee. Many parking lots belong to certain property developments. That is not the case in developed countries, which have flourish, and systematic, parking industries. Experts note the problem will be compounded in future, especially as the population grows and the number of vehicles increases. If that happens, space will become limited in cities, but parking lots should not occupy residential areas and streets. Industrialization of parking is one possible solution, Jia said. “Developed countries and regions provide some very good examples.” Japan, which has one-tenth of China’s population, but only 4 per cent of China’s land area, has successfully dealt with its parking problem. “First, Japan included parking in city planning; second, parking has been industrialized; third, Japan has developed its own parking facility equipment,” Jia said. To achieve industrialization in parking, experts suggest three solutions: Improving relevant legislation, tougher administration and development of multiple-level, above ground parking facilities. In fact, municipal governments in China are taking steps to combine parking with their city infrastructure programmes. At present, many big cities in China have their own plans focusing on parking lot construction. In Guangzhou, capital of South China’s Guangdong Province, the city planning bureau of the local government has worked out a blueprint to set up 95 public parking lots next year. Those lots will have a combined 20,265 parking spaces. By 2010, Guangzhou will have built an additional 118 parking lots, with a combined 16,680 parking spaces. The three-dimensional equipment, or multiple-level, above parking garages, is supposed to be the first choice. Hangzhou’s planning bureau has planned its overall arrangement of parking lots in the city’s centre. According to the regulation, in Hangzhou, capital of East China’s Zhejiang Province, there will be 37 parking lots in the city’s centre by 2010. Beijing, by 2010, plans to solve its parking lot crisis. All legally registered motor vehicles will be required to have their own parking spaces. Market behaviour has freedom to operate, but it still requires government regulation, especially support from legislation, industry experts said. In Beijing, there are several existing rules regarding parking, such as the Regulations on the Administration of Motor Vehicles Parking on Streets, Regulations on the Administration of Public Parking of Vehicles in Beijing, Regulations on the Administration of Public Parking of Non-motor Vehicles in Beijing. Liu Xiaoming, deputy director of Beijing’s municipal committee of communications, was recently quoted by Beijing Times as saying to carry out the spirit of the Beijing Transportation Development Programme, the capital will enact the Beijing parking regulation this year. Moreover, projects that Beijing’s municipal government scheduled to amend this year include the provision on standards of construction of vehicles parking facilities, which was drafted by the municipal road administration. Experts suggest there is another problem: Parking fees. Beijing enacted a parking-fee standard in May. However, many parking lots still follow the former standard. Under the new standard, people must pay 1 yuan (12 US cents) per half hour to park — small vehicles only — within the Fourth Ring Road. “But, when I drive into many parking lots, they charge me 2 yuan (24 US cents) according to the old standard,” said Wang Xin, who bought his Chery last month. Said Jia: “Fixing such issues will take time.” New equipment Many experts insist the development of multiple-level and above ground parking garage is a must. Such facilities are commonly used in developed countries, and they are applicable in China. They have one big advantage: They save space. Generally, such facilities require about one-25th the amount of space for a ground parking lot. Moreover, multiple-level and above ground parking equipment is cost-effective, and convenient. Such facilities are highly secure, and improve cities’ living conditions. The parking industries in some developed countries and regions have become profitable, and are earning hundreds of thousands, or more, US dollars a year. In Japan, the parking industry began in 1991. Many businesses paid great attention and began investing in the sector. Statistics indicate Japan’s parking sector is worth about US$7.7 billion (115 billion yen). The intelligent parking system developed by CARTEC and SPK in Japan not only generates fat sales in Japan, but also has become involved in some parking projects in Shanghai. In the Hong Kong Special Administrative Region, the price of a parking space is much more than that of a sedan. Taking Huijing Huayuan for example, a parking place is priced at HK$600,000 (US$76,923). In the United States, the parking industry is worth about US$26 billion per year, and the sector creates about 1 million jobs. When Thailand was suffering from the region’s financial crisis in 1998, investors transformed surplus apartments into parking garages. They recovered their investments very quickly, and the stagnant real estate market eventually reignited. Parking facilities in China are still a fairly new concept. The first multiple-level and above ground garage didn’t appear until 1989. In the past 10 years, China’s parking facility industry has developed at an astonishing rate. Before 1997, not many people had heard about a mechanical parking house. But in 1997-99, the device became more commonplace. As more people own and drive personal vehicles, it is crucial that China regulate, construct, manage and develop adequate parking facilities, experts said.

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Parking in Rome

In the centre of Rome, only permanent (certified) residents are allow to park in the streets, and they find it too extremely difficult to find a parking place. Even for them, it is harder than winning a prize in a lottery. You would be frustated all the time to find a parking place, and the police will most certainly confiscate your car and you will need to go through a lot of paperworks, rounds in various offices, and heavy fines to have it back. Currently, the Municipality made this a big business, so it is next to impossible to get away with it. In addition, you should also consider the security issue, i.e. the possible theft of petty thieves etc. Only a minority of historical, mannerly palaces (of very wealthy people) and monumental, renaissance palaces (seat of Ministries, Institutions, or Museums etc.) have parking lots or garages. They are consequently out of reach. There are only two public garages in the centre where you could park your car, but they are situated not in really highly central areas. The nearest is beneath the Borghese Gardens (address: Via del Galoppatoio), the other is just in front of Termini, Rome’s main train station, and it is run by ACI (Italian Automobile Association). They are both expensive (no less than 30-35 Euro per day, IE no less than 47-55 US$ currently). It also takes normally a rather long walk or short taxi ride (from all other central quarters), to go back and forth to these garages. Another solution is parking the car at the long term parking facility of Rome’s Fiumicino-Leonardo da Vinci’s airport, 38 km from town. The cost is appr. 10 Euro per day. Besides the reasonable cost, it is easy to find when driving to Rome from the all the motorways reaching the town. You could commute to and from the apartment with the dedicated train connecting the airport to the main train station Termini (cost appr. 9 Euro per person, time: 35 minutes), or you can also use our car service, which you can book beforehand.

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Beijing roads are one big parking lot

Imagine over 3-million cars and 18-million people using the streets and roads, that’s what Beijing will look like in 2008. Existing transport facilities are already unable to deal with the increasing traffic pressure. Will the situation ever improve and to what extent? What plans are being mapped out and will they be put in place in the near future?

In recent years, traffic jams on major Beijing roads have been getting more and more frequent. The very first thing I do when I get up every morning is try to figure out how to get to work without getting stuck in traffic. I believe my experience is not an isolated one. The road network in the city is being expanded, but is still unable to meet the ever-increasing demand for traffic facilities. Many people worry if Beijing is capable of dealing with its current traffic demands, and especially whether it can meet the traffic needs of the 2008 Olympic Games. Let’s take a look.

A couple of years ago, the journey from Xizhimen in northwest Beijing to Dongzhimen in the east took around 20 minutes by public transport using the northern section of the 2nd ring road. Now, however, covering the same distance takes double the time, and if you get caught in traffic jams like this it can be as much as two hours.

A Driver said, “There are too many cars and inexperienced drivers. Some sections of the roads are not designed properly. There are not enough exits on the 3rd Ring Road. Today I drove from the military museum to the airport. I went via the south 3rd ring road, traffic was banked up there. I chose the 4th ring road, the same. I had to go by the 5th ring road! ”

“Driving is a nerve-racking experience for me. Too many cars on the roads! It’s my first time today driving on the 3rd Ring Road. I often drive outside the 3rd Ring Road. Now I’m sweating a lot. Even the air-conditioning doesn’t help. From the Lize Overpass to the Liuli Overpass, I’d to go up and down the slopes. I am very nervous and stressed,” said by a new driver.

Another said, “When I bought my first car in 1997, it wasn’t as crowded on the roads as it is now. There were traffic jams in only a few places. Now, the 2nd, and the west 3rd Ring Road are banked up all day long. ”

Others complain that at rush hour Beijing roads are one big parking lot, and that riding a bike or even walking is often faster than driving. Indeed, cars cannot move once they get stuck on the road, but bikes still can. Bicyclists and pedestrians weaving their way between buses and cars in all directions are routine. Yet, that’s not the worst. The coming winter reminds us of the disastrous December 7th two years ago when a sudden snow fall paralyzed Beijing’s entire transport system. The city is vulnerable to emergencies such as this. Traffic pressure in Beijing is one big headache for its residents and city planners.

How did the problem start?

At a press conference last week, Director Quan Yongshen of the Beijing Municipal Communications Research Center analyzed the reasons for traffic pressures.

Quan Yongshen, Director of Beijing Municipal Communications Research Center, said, “A rapid increase in the number of automobiles, especially private cars, is the major contributor to traffic pressures in Beijing. Judging from its overall economic growth, Beijing has entered an era of rapid increase in car numbers. Another reason lies in the fact that Beijing is one of the leading cities in China and is experiencing rapid urbanization. The combination of these factors has resulted in major changes in supply and demand for transport facilities. Beijing has a severe shortage of land resources. It’s an important historical city with several thousand years of history. Of the 62 square kilometers of land inside the 2nd Ring Road, protected historical sites take up 40 percent. It’s impossible to carry out large-scale road construction projects here. The city’s traffic problems are the result of all the competing pressures when the city reaches a certain stage of development. It’s not simply a problem of the traffic system itself, at least not entirely. In other words, it’s not just a simple issue of more cars and less roads.”

Up to now, the number of the city’s motor vehicles has increased to 2-million, with 9-million bicycles. By 2008, the number of cars is expected to get close to 4-million, according to the director. Last year, Beijing recorded over 16-thousand traffic jams. In certain parts of the city, the rush hour extends to 11 hours a day. Although billions of yuan annually have been poured into building more roads over the past few years, it is still hard to balance supply and demand for traffic facilities. The city’s poor traffic management and physical layout make it impossible to ease traffic snarls. Both central and local government offices, as well commercial and cultural locations, are concentrated in the downtown areas, forming a centripetal traffic structure with the bulk of vehicular and passenger flow moving towards the central area. There have been loud calls from the public for a more rational layout of the traffic network, including subway lines, flyovers, pedestrian overpasses and underpasses, and for an increase in the capacity of public transport facilities such as public buses and railways.

The art of achieving a balance between preserving historically significant sites and meeting the demand for growth is one of the conundrums facing city planners today.

In early 1998, after many debates by specialists, the local government decided to shift its focus of construction from urban districts to suburban areas and from expansion of the city proper to transformation of urban traffic infrastructure. At last week’s press conference, Mr. Quan outlined the municipal government’s future plans for relieving traffic problems.

Quan said, “The provision of public transport facilities must be accelerated. Measures to be put in place over the next few years include establishing a rail transport network that will play a key role in the public transport system. Besides, a Bus Rapid Transit system or BRT system should be put in place. The advantages of such system are cost effectiveness and quick returns. Both systems are expected to play a major role in public transport. Inside the city proper, we won’t encourage the use of cars. In other words, we will tighten up controls over the excessive use of cars. In the outer city area, we will encourage car use and provide enough transport facilities for cars. ”

According to Quan, an efficient road network will be built connecting 10 new towns located around the city proper, offering good road facilities for car drivers living in these places. On the other hand, the use of cars in the city proper will be discouraged by measures such as raising parking fees. Besides, Park and Ride facilities will be in place along the outer city to encourage the use of public transport to get to the city center.

Urban road networks will include the 2nd, 3rd, 4th, 5th and 6th ring roads and 15 feeder lines. Another 15 arteries will link the central area and expressways, to the highest standards and the greatest possible capacity of transportation. All expressways will be built as three-level, fully enclosed lanes with no traffic lights. This will guarantee high-speed, continuous traffic flow, and smooth communication between urban districts and suburban areas.

Poor south-north communication, which has plagued Beijing for many years, will be improved after the completion of two new subway lines. By 2006, subway lines will extend from the current 53 km to 138 km. Beijing is mobilizing think tanks from around the world to deal with traffic challenges in the host city of 2008 Olympic games. Since there’s a will, there will be a way. Beijing is forging ahead with its grand traffic plan.

As of last week, an important project three years in the making, the 98km-long 5th ring road, opened for traffic. It connects with all the expressways radiating from Beijing. Its completion will definitely help relieve traffic pressure in the city center.

A decrease in the amount of traffic jams is not only the responsibility of the host city of the Olympic games but also the duty of the government and of ordinary citizens. In this period before all the planned facilities are put in place, think about smart travel such as using bicycles, and avoiding rush hours on the roads.

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RMB Appreciation Regains Momentum

After six weeks of quiescence, the RMB to USD exchange rate has begun to rise again.

In that period, the rate fluctuated slightly around 7.00 yuan to the dollar. During the whole of April, it increased by only 0.35%, the lowest growth rate during the past 12 months

Then last week saw the highest weekly increase since the beginning of this year as the exchange rate closed at 6.9417 yuan to the dollar on Friday, 0.68% up against the previous Friday’s closing price of 6.9890. Since the beginning of May, the RMB exchange rate has risen by 0.66%. Calculated over 15 trading days in May, the annual appreciation rate was 10.66%.

RMB appreciation slowed down after breaking the 7.00 yuan to $1 barrier on April 10, after which it hovered in that area. By the middle of May the annual rate growth had dropped from about 18% at the beginning of the year to 9.5% or so. Now, this uncertain period seems to have come to an end.

During the first quarter, the People’s Bank of China (PBoC), in its efforts to curb the inflation, allowed RMB appreciation to accelerate. But by the end of March, this was negatively affecting China’s exports. Moreover, CPI growth and hot money inflows were also accelerating. So PBoC applied the brakes hoping to crack down on speculators betting on appreciation.

Judging from the reaction of both domestic and overseas markets, PBoC’s measures have had some effect, as the appreciation rate dropped considerably. By the second week of May, the RMB appreciation represented by a one-year non-delivery forward (NDF) had dropped from over 10% in March to about 5.5%. Last week, a one-month NDF still indicated the RMB forward rate might decrease, showing that market expectations of appreciation had apparently changed.

But after this week’s jump, a one-year NDF anticipates about a 7% rise in the RMB/USD exchange.

This has been a valuable experience for PBoC. In the future, the central bank may again take such measures to crack down on speculation. But since the USD is depreciating on its own, RMB appreciation will not yet slow down over all. PBoC will continue lifting the exchange rate, and annual RMB appreciation in 2008 is still expected to be about 10%.

Source: China View

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Hot Money Flows Accelerate into China’s Reserves

There is a must-read post written by ChinaStakes.

The post attracting attention to rising foreign reserves of China,despite appreciation of the RMB.

Looked at Chinese economy before Olympics,it is quite interesting to see foreign reserves increasing rapidly.Since Chinese Government also taking measures to cut trade surpluses by  increasing reserve rates of the banks,tax rates etc…  The latest situation outlined below :

RMB appreciation slowed down a bit in April, but not so the flow of hot money into China.

According to insiders, China’s foreign reserves has reached $1.756 trillion, the increase in April alone being $74.46 billion, more than January’s increase of $61.6 billion and a new record for the biggest increase in a month.

The increase in China’s foreign reserves in the first 4 months of 2008 was $228.39 billion, nearly the whole amount of the increase year between 2004 and 2006. In April, the trade surplus was $16.68 billion and FDI net inflow was $7.6 billion, leaving $50.18 billion of the increase unaccounted for. In the first third of the year the total trade surplus was $58.12 billion, FDI inflow was $35.02 billion, and the unexplained foreign inflow increase was $135.25 billion.

This number still understates the hot money inflow as it takes into account neither transfers from the central bank’s foreign reserve to China Investment Corporation nor the deposit reserve rate increase as the central bank set more foreign reserves aside as deposit reserve.

According to Logan Wright, a Stone & McCarthy Research Association analyst, in Jan and March the central bank increased the deposit reserve rate twice and commercial banks were asked to deposit dollars, meaning greater deposit reserves of $20.4 billion and $22.1 billion, respectively. Besides, the last special treasury bond of China Investment Corp of $750 billion will be converted into RMB before March, which pushes the increase of foreign reserves of up to $950 billion.

Therefore, in the first 4 months, the total amount of foreign assets inflow would reach $365.9 billion, and the unexplained foreign exchange inflow in the first 4 months would surpass $270 billion [Read more]

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