Recently, the topic of high-speed rail profit and loss has become a focus of the outside world. In the newly disclosed prospectus of Beijing Shanghai High Speed Railway Co., Ltd. (hereinafter referred to as "Beijing Shanghai high speed railway"), the profitability of the subsidiary companies of China National Railway Group Co., Ltd. (hereinafter referred to as "China Railway Group") was announced for the first time, including 18 railway bureaus, specialized transportation companies such as China Railway special cargo and China Railway Express, as well as non transportation companies such as China Railway Jixun, China Railway Academy of Sciences and China Railway Design Group Enterprise. The losses of 12 railway bureaus are Taiyuan, Wuhan, Zhengzhou, Shanghai, Xi'an, Nanchang, Jinan, Hohhot, Qinghai Tibet, Guangzhou, Nanning, Urumqi, Kunming, Lanzhou, Beijing, Shenyang, Harbin and Chengdu. The losses of Shenyang Railway Bureau, Harbin Railway Bureau and Chengdu Railway Bureau are the largest, with losses of more than 10 billion in 2018 and more than 5 billion in the first half of 2019. In 2018, the net profits of the three subsidiaries were - 11.356 billion yuan, - 12.587 billion yuan and - 12.675 billion yuan respectively; in the first half of 2019, the net profits of the three subsidiaries were - 6.695 billion yuan, - 6.517 billion yuan and - 5.056 billion yuan respectively.
In 2018, only Taiyuan Railway Bureau, Wuhan Railway Bureau, Zhengzhou Railway Bureau, Shanghai Railway Bureau, Xi'an Railway Bureau and Nanchang Railway Bureau made profits. The profit and loss of Railway Bureau is related to many factors, including the development of regional economy, railway freight, passenger flow, high-speed railway construction investment, etc. For example, in the aspect of high-speed railway construction, the cost of one kilometer high-speed railway construction is between 100 million and 200 million yuan. In some places with many mountains and complex geological environment, the cost is higher. Taking the reply to the feasibility study report of the new Chongqing Kunming High Speed Railway issued by the national development and Reform Commission in September as an example, the new main line is 681km, the total investment of the project is about 141.62 billion yuan, including 133.91 billion yuan of project investment and 7.71 billion yuan of EMU purchase cost. That is to say, it is close to 200 million per kilometer on average. Of course, this is a high-speed railway with a design speed of 350 km / h. If it is designed with a design speed of 200 or 250, the cost will be lower. According to the data from the National Bureau of statistics, Beijing Tianjin high-speed railway was put into operation in 2008, marking the beginning of high-speed railway era in China.
After nearly ten years of rapid construction, the "four vertical and four horizontal" high-speed rail network has been built and operated, and China has become the only country in the world where the high-speed rail network operates. By the end of 2018, the total business mileage of high-speed rail was 30000 kilometers, 44.5 times of 2008, with an average annual growth of 46.2%. The business mileage of high-speed rail exceeded two thirds of the total mileage of the world's high-speed rail, ranking the first in the world. In addition, the mileage of high-speed rail in China will continue to increase in the future. According to the plan, we will strive to achieve a railway network scale of about 175000 kilometers by 2025, including 38000 kilometers of high-speed rail; by 2035, we will take the lead in building a developed and perfect modern railway network, basically realizing internal and external connectivity, smooth inter regional multi-channel, provincial capital high-speed rail connectivity, fast city access, and basic county coverage.
Not only the investment in the early stage is huge, but also the operation and maintenance costs in the later stage are high. In addition, although there are profitable lines such as Beijing Shanghai high speed railway, Shanghai Hangzhou railway, Guangzhou Shenzhen railway and Daqin Railway (7.840, 0.00, 0.00%) (coal transportation line), more lines do not make money. Especially in the central and western regions, the attendance rate of high-speed rail is not high. Take Wuhan Guangzhou high-speed railway as an example. Although it's hard to get a ticket for the Spring Festival and the 11th, there are a lot of vacancies at ordinary times. Under various factors, it can be predicted that the situation of large-scale loss of high-speed rail will continue in the future. Beyond the profit and loss: the social and economic benefits are huge. However, China's high-speed railway construction cannot be simply measured by the profit and loss, because the social benefits of China's high-speed railway and high-speed railway exceed the profit and loss itself. The rapid development of high-speed rail not only significantly improves people's travel conditions, but also drives the economic growth along the line and the optimization and upgrading of relevant industrial structure, promotes the coordinated development of regional, urban and rural areas and the construction of ecological civilization, and has a huge spillover effect.
In recent years, with the opening of Guiyang Guangzhou, Shanghai Kunming high speed railway and other lines, the railway passenger transport volume and tourism industry in Guizhou are growing rapidly. According to the data, in 2018, Guizhou's passenger turnover was 47.894 billion person kilometers, an increase of 1.3% over the previous year, including 32.3% increase in railway passenger turnover. Driven by high-speed rail, Guizhou's tourism industry continued to "blowout" in 2018. The total number of tourists in the province is 969 million, an increase of 30.2% over the previous year; the total tourism revenue is 947.103 billion yuan, an increase of 33.1%. In Northwest China, the opening of Baoji Lanzhou high speed railway has also promoted the rapid development of local tourism. Zhang Baotong, President of Shaanxi urban economic and Cultural Research Association, analyzed the first finance and economics. The biggest advantage of high-speed railway is to drive the flow of people. There are abundant tourism resources in Northwest China. The opening of high-speed railway makes these tourism resources fully developed, which in turn drives the convergence of people flow, logistics, information flow and capital flow, and drives the development of Northwest China and the construction of Silk Road Economic Belt 。 The opening of Baolan high-speed railway not only meets the travel needs of the people, but also widens the transportation channels and markets of fruits, vegetables, medicinal materials and crops in cities along the line, creating unprecedented development opportunities for the "going out" of Tianshui "huaniu apple", dacherry, Qin'an "honey peach", Longxi medicinal materials, Dingxi Potato, etc., and rapidly transforming resource advantages into economic advantages. In addition to driving the growth of tourism and regional economy along the line, the construction of high-speed railway and intercity railway also accelerated the formation and development of metropolitan areas and urban agglomerations.
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