Line Development VS Funds Scarcity
According to China's Mid and Long Term Railway Network Plan, China is to finish the construction of high-speed railway network linking key cities composed of four north-south lines and four east-west lines by 2020. The total length is to reach 12,500 km and most of the links will open with the speed of 200 km/h or above.
However, China's railroad development is suffering from funds shortage of RMB 80 billion per year and current investment mode doesn’t seem profitable enough to encourage private privatization.
Progress VS Barriers
Listed companies and high-speed rail lines, the two spotlights drawing worldwide attention in China, are also the country's most high-quality railway assets. With the IPOs of several railway builders, China’s railway sector has broken the ice in the process of marketization through the capital market. Nevertheless, the difficulty in investing in railway project is still overwhelming to private investors, and the profit mode also remains uncertain. Considering the sustained development, single lines such as Beijing-Shanghai high-speed railroad are bound to operate independently sooner or later, and even launch IPOs, thus still being attractive to investors especially those from overseas.
Achievements VS Challenges
Beijing-Tianjin Intercity Railroad, the first high-speed intercity railway at the speed of 300km/h in China, is to be put into operation at Aug 1, 2008 while the other lines like Beijing-Shanghai line, Guangzhou-Shenzhen-Hong Kong line are currently under construction. But how to deliver high-quality operation, management and passenger service while securing smooth and safe running will inevitably be a rising concern to the operators in the near future.
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