The Beijing municipal government has announced that it plans to reform the current low-cost subway ticket system in an apparent bid to cut the overall cost of transport subsidies in the city.

Plans will involve a differential pricing system during peak hours to ease the pressure of passenger volume, the government said in a statement on Friday.

Last week, Beijing's Municipal People's Congress conducted a three-day review of the city government's 2014 budget. Members of the congress's urban construction and environmental protection commission said the government's financial burden is increasing because of mounting subsidies for low-cost public transport.