Removal of Toll Stations on Provincial Borders Has Little Impact for Toll Operators.
China recently announced that it would remove toll stations on provincial borders during the National People’s Congress. The removal of cross-provincial border stations doesn’t mean a cut in toll fees, but a change of collection method. We expect little impact to expressway operators’ revenue, while non-stopping at tolls will improve traffic flows and save labor costs. We estimate narrow-moat-rated Jiangsu Expressway, or JE, would benefit from about CNY 6-8 million cost savings on annual basis. ...
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