Transit company ruan has leased its first office in Shanghai to build a $4 billion transit hub.

The move comes amid a slowing China economy and amid the slowing Chinese economy as China’s economy grows slower than expected and public transport slows down. 

A ruan spokesperson said the move was aimed at improving the company’s operational efficiency and boost its competitiveness. 

“In addition, ruan is also expanding its infrastructure in Shanghai,” the spokesperson said. 

In January, China’s National Transportation Safety Bureau (NTB) ordered the suspension of all transport operations in the country.

In October, the government said it was delaying the completion of the first phase of the Belt and Road Initiative (BRI) which is aimed at building a new road network.

The government’s plan calls for linking the two main roads linking China and Europe through Shanghai.

The new Shanghai office is part of a plan to boost its transport business and increase its workforce by 10,000 people.