parking resources: Ting Jian Dan didn't disclose the specific amount it raised, but it said that the investment amounted to "hundreds of millions of yuan," according to a statement it sent to the Global Times on Wednesday, according to Global Times China. Liu Wenchao, CEO of Ting Jian Dan, said at a press conference on Wednesday that as urbanization has progressed in China, urban plans in many cities haven't given enough attention to parking needs, and the problem of insufficient parking space cannot be changed in the short term. "The Easy parking app was invented to help solve the problem. Other investors include Frees Fund and the domestic furniture mall chain Red Star Macalline. It will connect fragmented parking resources via the Internet and increase the efficiency of parking space allocation to car owners," Liu said. Its business covers thousands of parking lots in China, it said. According to the company statement, since the app launch in May 2015, it has provided services for 7.5 million vehicles.
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