Expert: Car license lottery has affected economic growth

BEIJING - A government cap on new vehicle purchases led to a slight reduction in the capital's economic growth, it has been revealed.

"Beijing's economy grew 8 percent in the first half of this year, putting it last in the national rankings," said Yao Jingyuan, former chief economist at the National Bureau of Statistics. "The limit on car purchases cost the city an extra 1 percent at least."

He was speaking at the seventh annual international forum on China's auto industry development, held Friday to Sunday in Tianjin.