Jason Lee / Reuters

Vehicles drive on Three Ring Road and Jianwai Street during rush hour in central Beijing, on Thursday, Dec. 23. Starting in 2011, Beijing will limit how many new cars it licenses to 240,000 annually, in an effort to ease the capital city's traffic jams.

Beijing's traffic woes drive talk of relocating capital

NBC News' Eric Baculinao reports: Sharp limits will be imposed on the number of new cars licensed in Beijing next year, and purchases would be limited to the city’s registered residents only, to the exclusion of millions of migrants living there.

The sweeping rules will curb new car licenses by a whopping two-thirds, bring in stiff parking fees and also bar out of town vehicles from entering the main city area during rush hours.

Read the full story HERE.

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