Beijing plans to allocate 2.84 billion yuan ($450 million) this year to further improve the capital's notorious traffic, China News reported on Friday.

The fund will be used mainly to open up dead-end roads, widen road bottlenecks, and rebuild roads that cause congestion.

Roads near schools and old residential communities are top of the list of priorities for improvement, said an official of the Beijing Municipal Commission of Development and Reform.

Beijing has already introduced a series of measures to tackle the jams, including a monthly quota for license plates. But since the number of cars registered in Beijing passed the 5 million mark in February 2012, vehicles are usually slowed to a crawl on major road networks.