Cars traveling across China will no longer need to stop at toll booths to cross into the next province. Tolls are going electronic.
Over the next two years, China will dismantle all provincial borders’ physical toll booths, the State Council announced last week. A cashless tolling system dubbed Electronic Toll Collection (ETC) will be implemented in their place.
Chinese Premier Li Keqiang first mentioned the plan in a government work report in March.
Now, companies that make transponders for cars – devices that allow vehicles to pass through new electronic readers on highways – have seen their stocks soar. Shenzhen-listed Beijing Wanji Technology, for example, saw its shares jump by 31% between March 5 and May 27.Related: Shanghai to Switch to Electronic Tolls by December