Officials from the municipal bureau of communications said it's time to invite non-governmental investment to this booming industry in Shenzhen in South China's Guangdong Province.
Part of the State-owned stock of the bus company will be sold to foreign, private or other State-owned enterprises, Zheng said when quoting plans by the municipal government.
It is reported that the public bidding plan is being drafted now.
Another public transportation company will be established in Shenzhen by the end of the year to help improve the service.
The municipal government also plans to stop subsidizing the bus companies step by step, the Guangzhou-based Nanfang City Daily reported.
Zheng said he hoped the local government can learn from the Hong Kong Special Administrative Region government after abolishing the financial subsidy.
The official advised the government to support losing bus lines through favourable policies in taxation and land usage.
Official statistics indicate the public transportation passenger volume of Shenzhen has increased by more than 10 percent since 1997, and the figure per day is 2.5 million.
( China Daily March 4, 2002)
