Large scale of China’s high-speed railway construction won’t lead to debt crisis
Released on 2011-10-24 16:06 | readings
据悉，美国总统奥巴马在近日的演讲中提到“中国正在建设比我们更快的铁路和更先进的机场”，美国应当把中国当做榜样。他同时表示，未来25年中，要让80%的美国人获得高速铁路的覆盖。这可以使更多的美国人投入到道路的建设、整修和桥梁修理的工作当中，解决就业问题。中国目前拥有350公里时速高铁的安全运营经验。随着总长8000多公里的高速铁路顺利开通运营，中国已成为世界上高铁运营速度最快、里程最长、系统技术最为完整的国家。按照规划，通过加快高铁市场开发和优化既有线客运资源配置，形成以高铁为龙头，高速、提速、普速共同发展的铁路客运市场新格局将大幅度提高铁路客运量。
到2015年，全国铁路旅客发送量的目标被定为30亿人以上，全国铁路营业里程预计达到12万公里以上，其中高速铁路1.6万公里以上，快速铁路客运网覆盖省会及90%的50万以上人口城市。但中国高铁的重资投入和庞大规模引起不少人担心高铁建设会导致债务危机。就此问题，铁道部总经济师余邦利解释，从我国铁路整体债务水平上看，处于安全、合理、可控水平。高铁项目在初期财务结构安排上是稳健的，其资本金的比例不低于总投资的50%，在债务期限结构上充分考虑了未来现金流的平衡，保证了项目的可持续性。他认为：“中国高铁建设的投资完全有保障，高铁发展不会导致债务危机。”
It is reported that in a recent speech, U.S. President Barack Obama mentioned: “China is building faster and more advanced railway and airport.” The U.S. should regard China as an example. He also expressed, in the next 25 years, 80% of Americans will benefit from the U.S. railway which requires more Americans involve in the railway construction and bridge restructuration, as a result to get rid of the unemployment. Currently, China has the security operation experience of high-speed railway running 350 kilometers per hour. Along with the successful operation of over 8,000 km high-speed railway, China’s railway is becoming the fastest, the longest distance with the most comprehensive system. According to an official plan, by accelerating the development of high-speed railway market and optimizing the existing transportation recourses, the market structure in which high-speed railway as a leader, high speed, extra speed and normal speed railways develop together will be formed to enhance railway’s capacity of carrying passengers.
During “The 12th Five Year Plan”, the scale of newly built railway mileages will surpass “The 11th Five Year Plan”, and 50% of the plan focuses on building the high-speed railway. Besides accelerating speed of building railway’s infrastructure, improving board service was also pointed out. According to the “Long-term Railway Network Plan”, during “The 12th Five Year Plan”, the railway infrastructure construction investment is expected to reach over 3.5 trillion Yuan, as an average of 70 million annually. Beijing-Shanghai, Beijing-Guangzhou, Beijing-Haerbin high-speed railway will open soon, the railway operating network will reach 13,000km, signifying the establishment of China’s high-speed railway network. Liu Zhijun, Deputy Minister of Railway, alleged they will accelerate the development and expansion of high-speed rail market and make the high-speed railway a showcase to China’s whole railway system to adapt the rapid development of China’s high-speed railway construction.
By 2015, the targeted national railway passenger capacity was set to more than 3 billion, and the estimate operating mileages will reach over 120,000 km, among which, the high-speed railway constitutes 16,000 km. The high-speed railway network will cover capital cities and 90% of cities with a population of more than 500,000 people. However, the heavy investment and the large scale of China’s high-speed railway bringing about many people’s concern that the large scale of high-speed railway construction will lead to debt crisis. Regarding to the issue, Yu Bangli, chief economist of the Ministry of Railways, explained: in terms of the overall railway debt, it’s safe, reasonable and manageable. The financial structure of the initial project arrangement of the high-speed rail project is stable, and its capital ratio is equal to 50% or above. It takes fully into account of the debt maturity structure to balance the future cash flow which ensures the sustainability of the project. He also believes: “China’s high-speed railway construction investment is totally secured; high-speed railway development won’t lead to the debt crisis.”
据悉，美国总统奥巴马在近日的演讲中提到“中国正在建设比我们更快的铁路和更先进的机场”，美国应当把中国当做榜样。他同时表示，未来25年中，要让80%的美国人获得高速铁路的覆盖。这可以使更多的美国人投入到道路的建设、整修和桥梁修理的工作当中，解决就业问题。中国目前拥有350公里时速高铁的安全运营经验。随着总长8000多公里的高速铁路顺利开通运营，中国已成为世界上高铁运营速度最快、里程最长、系统技术最为完整的国家。按照规划，通过加快高铁市场开发和优化既有线客运资源配置，形成以高铁为龙头，高速、提速、普速共同发展的铁路客运市场新格局将大幅度提高铁路客运量。
到2015年，全国铁路旅客发送量的目标被定为30亿人以上，全国铁路营业里程预计达到12万公里以上，其中高速铁路1.6万公里以上，快速铁路客运网覆盖省会及90%的50万以上人口城市。但中国高铁的重资投入和庞大规模引起不少人担心高铁建设会导致债务危机。就此问题，铁道部总经济师余邦利解释，从我国铁路整体债务水平上看，处于安全、合理、可控水平。高铁项目在初期财务结构安排上是稳健的，其资本金的比例不低于总投资的50%，在债务期限结构上充分考虑了未来现金流的平衡，保证了项目的可持续性。他认为：“中国高铁建设的投资完全有保障，高铁发展不会导致债务危机。”
It is reported that in a recent speech, U.S. President Barack Obama mentioned: “China is building faster and more advanced railway and airport.” The U.S. should regard China as an example. He also expressed, in the next 25 years, 80% of Americans will benefit from the U.S. railway which requires more Americans involve in the railway construction and bridge restructuration, as a result to get rid of the unemployment. Currently, China has the security operation experience of high-speed railway running 350 kilometers per hour. Along with the successful operation of over 8,000 km high-speed railway, China’s railway is becoming the fastest, the longest distance with the most comprehensive system. According to an official plan, by accelerating the development of high-speed railway market and optimizing the existing transportation recourses, the market structure in which high-speed railway as a leader, high speed, extra speed and normal speed railways develop together will be formed to enhance railway’s capacity of carrying passengers.
During “The 12th Five Year Plan”, the scale of newly built railway mileages will surpass “The 11th Five Year Plan”, and 50% of the plan focuses on building the high-speed railway. Besides accelerating speed of building railway’s infrastructure, improving board service was also pointed out. According to the “Long-term Railway Network Plan”, during “The 12th Five Year Plan”, the railway infrastructure construction investment is expected to reach over 3.5 trillion Yuan, as an average of 70 million annually. Beijing-Shanghai, Beijing-Guangzhou, Beijing-Haerbin high-speed railway will open soon, the railway operating network will reach 13,000km, signifying the establishment of China’s high-speed railway network. Liu Zhijun, Deputy Minister of Railway, alleged they will accelerate the development and expansion of high-speed rail market and make the high-speed railway a showcase to China’s whole railway system to adapt the rapid development of China’s high-speed railway construction.
By 2015, the targeted national railway passenger capacity was set to more than 3 billion, and the estimate operating mileages will reach over 120,000 km, among which, the high-speed railway constitutes 16,000 km. The high-speed railway network will cover capital cities and 90% of cities with a population of more than 500,000 people. However, the heavy investment and the large scale of China’s high-speed railway bringing about many people’s concern that the large scale of high-speed railway construction will lead to debt crisis. Regarding to the issue, Yu Bangli, chief economist of the Ministry of Railways, explained: in terms of the overall railway debt, it’s safe, reasonable and manageable. The financial structure of the initial project arrangement of the high-speed rail project is stable, and its capital ratio is equal to 50% or above. It takes fully into account of the debt maturity structure to balance the future cash flow which ensures the sustainability of the project. He also believes: “China’s high-speed railway construction investment is totally secured; high-speed railway development won’t lead to the debt crisis.”