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On October 18th, 2013, Jinan City, Shandong Province will upgrade the public transport vehicles and purchase 1,000 new buses through government procurement. The total investment is over RMB 800 million to improve public transport service. The investment in these vehicles also effectively safeguarded the recent successful opening of the 10th China Art Festival in Jinan.
It is understood that in early September, the first batch of public transport vehicles in Jinan City purchased 225 vehicles. The procurement of vehicles was conducted through competitive negotiation. The procurement was divided into 6 packages and 8 vehicle manufacturers participated in the bidding. Finally, Sinotruk Jinan Haowo Bus Co., Ltd., Zhongtong Bus Holdings Co., Ltd. and Zhengzhou Yutong Bus Co., Ltd. The company won the bid, with a total bid price of 140 million yuan, a capital expenditure of 50.38 million yuan, an economic savings rate of 26.4%, a maximum savings of fiscal funds, and an increase in the use of financial funds.