Beijing will Subsidize Taxi Drivers
China will subsidize taxi drivers Y110 ($14.6) each month following a 10% price hike in gasoline, diesel oil and aviation kerosene.
Two-thirds of the subsidy is paid by taxi companies and one-third by the government.
The hope is to not raise taxi fares until gasoline prices pass 81 cents/liter ($3.00/gal).
The current price for gasoline in China is about $2.75/gallon for #93 gasoline.
Beijing has about 67,000 taxis.
Let's see, 67,000 x Y110 each month = a lot.
Do you travel by taxi when you are in Beijing?
Tags: 3975, 4147POSTED IN: Doing Business in China
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