In the first three quarters, the railway investment fell by 3%

The investment in railway fixed assets slowed down nationwide. In the first three quarters of 2019, China's railway investment reached 554.6 billion yuan, a year-on-year decrease of 3.1% compared with 572.289 billion yuan in the same period of 2018. This is also the data showing negative growth again since the year-on-year decline of railway investment in the previous eight months. On October 16, the above information was displayed in the "completion of main national railway indicators in September 2019" released by the state railway administration. According to the report on the work of the government in 2019, the target task of 800 billion yuan of railway investment should be completed in that year. At present, less than 70% has been completed, accounting for 69.33%.

On the completion of the investment task of fixed assets of railway in 2019, China National Railway Group Co., Ltd. (hereinafter referred to as "China Railway Group") has a clear goal. Lu Dongfu, chairman of the board of directors, stressed at the quarterly party construction and operation meeting of China Railway Group held on October 12 that in the fourth quarter, we should ensure the completion of the 800 billion yuan railway investment task and physical workload in accordance with the sequence of "ensuring the opening, construction in progress and construction in progress". In particular, we should carefully complete the project closing, completion acceptance, safety assessment, operation preparation and other work of the opening project within the year, and fully implement them. Now the system goal of building according to the law and regulations. Although the national railway investment slows down, compared with the data of the same period in the past four years, the current investment task is still at a good level. From 2015 to the first three quarters of 2018, China's railway fixed assets investment was 491.894 billion yuan, 542.342 billion yuan, 545.545 billion yuan and 572.289 billion yuan respectively, showing that the current completion volume is the highest in the past four years.

People from China Railway Group told China Business Daily that at present, the completion of railway investment is generally stable and the progress is normal. He pointed out that this year, the investment in railway construction projects will face the problem of the alternation of the old and the new, and a number of major railway construction projects will be completed and put into operation. Higher requirements will be put forward for the commencement and construction of the next railway construction projects and project reserves. In order to complete the task of railway investment this year, in the last quarter, China Railway Group will focus on "three batches", that is, "one batch under construction, one batch under construction, one batch under construction, one batch under reserve". The person also told reporters that in this year's 800 billion yuan investment in fixed assets, the investment in equipment is no less than 100 billion yuan. In 2018, China Railway Group has completed the bidding procurement of EMUs, locomotives, trucks and other models, including 978 high-speed EMUs Fuxing on September 20, with a total price of about 21 billion yuan.

The national railway fixed assets investment consists of the investment in rolling stock (equipment) and the investment in capital construction. The investment in rolling stock is used as the cost of purchasing and maintaining rolling stock, and the investment in capital construction is used to build a new railway line. This data is an important basis to measure the completion of the annual construction tasks of the railway. According to the audit report for the first half of 2019 of China Railway Group, by the first half of 2019, the total assets of China Railway Group were 8.08 trillion yuan, an increase of 2.67% year on year, liabilities of 5.29 trillion yuan, and debt ratio slightly reduced to 65.47%; in the first half of 2019, China Railway Group only lost 205 million yuan, a decrease of 40% compared with the same period of last year, creating the best record again. In the first half of 2019, the total revenue of China Railway Group was 528.178 billion yuan, up 5.88% from 498.831 billion yuan in the same period last year. Among them, transportation revenue totaled 393.754 billion yuan, an increase of 8.81% year on year.