Chinese companies race to cash in on electronic toll collection

GUANGZHOU -- Chinese companies of all stripes -- tech giants, banks and manufacturers alike -- are rushing to profit from a surge in demand for electronic toll collection devices for the country's roughly 240 million cars.

The government now fully subsidizes in-vehicle ETC devices and their installation as a part of its effort to untangle chronic traffic snarls in major cities. Expressway tolls have also been cut by 5% for motorists using electronic systems.