A spokesman for the Shanghai Maglev Transportation Development Company, which is in charge of the construction and operation of the world's first commercial maglev line, said the auction would be held in February, but gave no specific date.

Using advanced electromagnetic levitation technology developed by Germany, the world's first commercial maglev train takes less than eight minutes to travel 30 km, linking the Pudong International Airport and the city's sprawling subway system.

Shanghai International Commodity Auction Company had been authorized to organize the auction, said the spokesman, adding that the naming right will last two years.

With core technology imported from Germany, the maglev system, which costs 10 billion yuan (US$1.2 billion), begin trial operation on Dec. 31 of 2002 and will commence full commercial operation at the end of this year.

It is expected to carry 7 million passengers in 2004.

(China Daily January 20, 2003)