GZI Transport chairman says it will be spared impact of curbs on car financing
Guangzhou toll-road operator GZI Transport is optimistic about its traffic growth this year despite the government's policy to cool financing on car purchases, according to chairman Ou Bingchang.
He believed China's policy restricting car financing would affect car manufacturers and lenders rather than toll-road operators.
'Car ownership is still growing in Guangzhou and Shenzhen,' Mr Ou said yesterday. 'The demand is so strong that there are more than 1,000 applications every month for car licences in Guangzhou and Shenzhen.'
GZI's traffic volume in the first two months of this year rose an annualised 6 per cent, director and general manager Li Xinmin said while announcing the company's full-year profit.
During the first three months of this year, the company's 46 per cent-owned Guangzhou North Second Ring expressway was the best performer, with traffic jumping 124.5 per cent as the 42km toll road was linked up with five new highways.
