Private entities allowed to build, manage public parking lots

BEIJING - Chinese enterprises and individuals are now allowed to invest in the construction of public parking lots, according to a government guideline released on Tuesday.

The government will issue regulations to encourage private participation in public parking facilities around key areas such as communities, transportation hubs and tourism spots, according to a joint statement issued by the National Development and Reform Commission and six different ministries.

Parking fees will be flexible, in line with investment and location, the guideline said.

The government also called for the development of parking applications for smart devices, according to the guideline.