According to the official charging standards, parking alongside the roads in Nanning, Guangxi, could cost hundreds of yuan per day. Due to the high parking fees, Nanning Hui Bo Parking Lot Service Co., Ltd. (referred to as Hui Bo Parking) has become a hot topic.
Hui Bo Parking was registered and established in December 2017, with Nanning Public Transportation Group as its sole shareholder. In October 2022, Nanning Public Transportation Group merged with Nanning Rail Transit Group, the latter being 100% controlled by Nanning State-owned Assets Supervision and Administration Commission. Two months before this change, Hui Bo Parking’s registered capital skyrocketed from 2 million yuan to 502 million yuan.
An article published in the Nanning Evening News on May 9, 2023, stated that Hui Bo Parking manages a total of 30,535 parking spaces and 36,908 meters of parking areas.
On the same day, the Nanning Traffic Police Detachment stated in response to journalists that there are 46,908 parking spaces and 71,944 meters of parking areas in Nanning’s urban roads, including 16,373 free parking spaces and 35,036 meters of free parking areas.
It can be seen that all the paid parking spaces alongside the urban roads in Nanning are under the management of Hui Bo Parking.
In response to public concerns about expensive parking fees, the Nanning Municipal Government issued two announcements on May 18, 2023, stating that they will improve the management level of parking spaces on roads, seek public opinions, optimize the parking fee standards according to the procedure, and organize implementation as soon as possible.
The mysteries surrounding Hui Bo Parking go beyond high fees.
According to the financial report of Nanning Rail Transit Group, Hui Bo Parking holds the operating rights for motor vehicle parking spaces for 30 years. In 2022, Hui Bo Parking had a net asset value of approximately 495 million yuan and a net loss of about 12.08 million yuan.
Tianyancha (a Chinese corporate information database) shows that Hui Bo Parking obtained loans from banks by pledging the 25.5-year operating rights of the parking spaces. The value of the pledged operating rights was 7.209 billion yuan.
The Nanning Municipal Audit Bureau has dispatched an audit team to investigate the management of road parking spaces in Nanning, specifically focusing on Hui Bo Parking, from May 21 to June 15, 2023. During this period, they welcome the public and staff members to report any relevant information.