Parking space and automobiles growing in Shanghai

*Shanghai is one of big cities in China As the number of cars continues to grow, parking has become a burgeoning industry with an immense market in China. In Shanghai for instance, the number of automobiles owned exceeded 2 million by the end of 2004. According to the figures from "The 3rd Shanghai Comprehensive Traffic Investigation" launched by the Shanghai Municipal Government, the number of parking spaces and automobiles was 368,000 and 456,000 respectively within the down town area by the end of the year 2004. At present, there is a shortage of around 60,000 public parking spaces in Shanghai and there will be a further shortage of about 120,000 in 2010, which shows that efforts to expand the parking facilities were obviously unable to keep pace with the speedy growth of the number of cars.