Parking Plight

In recent years, private car ownership in China has risen by 13 to 15 percent year on year and it is expected that China will be home to over 170 million vehicles by 2017. Parking lots, however, are far from sufficient to accommodate this rise, particularly in China’s major cities. According to iResearch, a private consulting firm, China’s four most congested cities – Beijing, Shanghai, Guangzhou and Shenzhen – are currently only able to provide parking spaces for 24 percent of the vehicles on their roads, meaning some two million vehicles in each city have no designated parking space. In the few commercial lots that do exist, astronomical prices have discouraged motorists from renting or purchasing spaces. Experts say the chaotic joint management system, which shares responsibility for the parking issue among a dozen government organs, including those responsible for public security, transportation and urban management, has to be streamlined.