Beijing Raises Cab Fares as Taxis Disappear During Rush Hour

Beijing Raises Cab Fares as Taxis Disappear During Rush Hour

Nelson Ching/Bloomberg

A taxi driver awaits passengers in the central business district (CBD) of Beijing. The city currently has 66,646 taxis in operation for about 700 million trips in a city that’s about half the size of Belgium, according to the local government.