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The HSR network reached 42,000km (26,000mi) in total length in December 2022[3] with plans to reach 70,000km (43,000mi) in 2035. It was profitable every year between 2014 and 2019, according to national railway operator China State Railway Group Co. 1st May 2023, 23:03 GMT+10. On August 1, 2008, the BeijingTianjin intercity railway opened in time for the 2008 Summer Olympics. [138], The safety issue that drew the attention of the public and the government was the Wenzhou train collision which happened on July 23, 2011, in which 40 people died, 172 were injured, and 54 related officials blamed and punished. liability for the information given being complete or correct. [180] In December 2014, the Henan provincial government imposed a rule requiring municipal authorities pay 70% of the deficit incurred by Henan's intercity lines with the provincial authorities paying the remainder 30%. Even the more modest plan to extend the maglev to Shanghai's other airport, Hongqiao, has stalled. He also introduced that a few days ago, he traveled from Chengdu to . It is also known as "the most profitable" rail line, with annual growth rate of profits registered at 39.4 percent from 2014 to 2019. Number of high-speed railways in China as of August in 2019, by profit status and speed [Graph]. You only have access to basic statistics. Total investment in new rail lines grew from $14billion in 2004 to $22.7 and $26.2billion in 2006 and 2007. The economics of a new China-Laos train line | The Economist [123], The government actively promoted the export of high-speed rail technology to countries including Mexico, Thailand, the United Kingdom, India, Russia and Turkey. [143] However, the rail staff productivity upon railway track infrastructure index in China is less than 0.05, being the lowest among the countries with significant railway construction. A planned launch of the maglev train was set for 2025. Higher-speed express train service allowed more trains to share the tracks and improved rail transport capacity. Photo . Intercity railways are designed to provide regional high-speed rail service between large cities and metropolitan areas that are generally within the same province. The Beijing Shanghai route has been always full and making big money even during the pandemic. [22] In December 1994, the State Council commissioned a feasibility study for the line.[22]. Due to varying update cycles, statistics can display more up-to-date ", "Freeman & Kroeber, "Opinion: China's Fast Track to Development", "High-Speed Railways in China: A Look at Traffic", "Shanghai, Shenzhen, Beijing Lead Prospects in ULI's China Cities Survey", "China's high-speed-rail network and the development of second-tier cities", "Japan Inc shoots itself in foot on bullet train", "The Pricing Conundrum for Chinese High-speed Rail", "China: profitability of high-speed railway by route", Shelley Smith "Yuan Bond Sales Climb to Record Led by Railways: China Credit", "China Daily Website - Connecting China Connecting the World", "Is Low-Cost Intercity Rail Possible? [37] All had to adapt their HSR train-sets to China's own common standard and assemble units through local joint ventures (JV) or cooperate with Chinese manufacturers. Kawasaki won an order for 60 train sets based on its E2 Series Shinkansen for 9.3billion. Find your information in our database containing over 20,000 reports, China's investment in intercity high-speed rail and rail transit. [135] In 2025, the HSR network will reach a total lenght of 50.000km and will grow further.[136]. In 2004, the State Council in its Mid-to-Long Term Railway Development Plan, adopted conventional track HSR technology over maglev for the BeijingShanghai High Speed Railway and three other northsouth high-speed rail lines. [9] HSR lines with design speeds at 200250km/h (120160mph) are more common than higher speed lines. The study also noted a range of benefits which included shortened travel times, improved safety and better facilitation of tourism, labor and mobility, as well as reducing highway congestion, accidents and greenhouse emissions as some automobile travellers switch from car use to rail. The 4+4 national HSR grid was largely completed by the end of 2015 and now serves as the backbone of China's HSR network. According to the "Mid-to-Long Term Railway Network Plan" (revised in 2008), the MOR plans to build over 40,000km (25,000mi) of railway in order to expand the railway network in western China and to fill gaps in the networks of eastern and central China. The completion of the sixth round of the "Speed-Up" Campaign in April 2007 brought HSR service to more existing lines: 423km (263mi) capable of 250km/h (155mph) train service and 3,002km (1,865mi) capable of 200km/h (124mph). Despite unmatched advantage in speed, the maglev has not gained widespread use in China's high-speed rail network due to high cost, German refusal to share technology and concerns about safety. 110,000 mainland Chinese tourists leave Hong Kong on first day of How profitable is China's high-speed rail? - by Glenn Luk Fares are competitive with bus and airfares and are about one-fourth the base fares in other countries. Bloomberg. The train operated in commercially on conventional rail lines in southwest China from 2007 to 2010. [14] In 2021, China's state railway company have also vowed to prioritise in reforms that aims to improve the productivity and efficiency of its high speed rail network, rather than focus on the expansion of track mileage. As of 2022, the China State Railway Group has had a debt of around $900 billion USD, according to Nikkei. As of February 2016, high-speed rails covered nearly 20,000km (12,427mi). [76][77][78] The accident occurred when one train traveling near Wenzhou was struck by lightning, lost power and stalled. Opponents noted that high-speed rail in other countries were expensive and mostly unprofitable. The following year, Siemens reshuffled its bidding team, lowered prices, joined the bidding for 350km/h (217mph) trains and won a 60-train set order. [10] In 2020, China started testing a maglev prototype train that runs at 600km/h (373mph) and planned a 2025 launch date. A Whopping $900B Debt - China's Once-Profitable High-Speed Railways Now Six lines have started to make operating profits (ie, not counting construction costs), with the Beijing-Shanghai link the world's most profitable bullet train, pulling in 6.6bn yuan last year.. [118], In 2014, high-speed rail expansion gained speed with the opening of the TaiyuanXi'an, HangzhouChangsha, Lanzhou-rmqi, Guiyang-Guangzhou, Nanning-Guangzhou trunk lines and intercity lines around Wuhan, Chengdu,[119] Qingdao[120] and Zhengzhou. [181] The losses must be covered by the operator, which is usually subsidized by local governments. [49], On October 19, 2010, the MOR announced the beginning of research and development of "super-speed" railway technology, which would increase the maximum speed of trains to over 500km/h (311mph). China has built the bulk of the world's . An investigation of 23 railway construction companies in August 2011 revealed that 70% of existing projects had been slowed or halted mainly due to shortage of funding. Rail Vehicle Market Restraints, Segments and Regional - MarketWatch [210][211][212][213], In October 2016 China's CRRC announced that it was beginning research and development on a 600km/h (373mph) Maglev train and would build a 5km (3.1mi) test track. [178] To break even, the line must deliver 30 million rides annually. In May 2011, China's Environmental Protection Ministry ordered the halting of construction and operation of two high-speed lines that failed to pass environmental impact tests. In Saudi Arabia's Haramain High Speed Rail Project, Alstom partnered with China Railway Construction Corp. to win the contract to build phase I of the Mecca to Medina HSR line, and Siemens has joined CSR to bid on phase II. Raymond Seow on Twitter: "What did the delicate girl do for the Most of the components of the CRH trains manufactured by Chinese companies were from local suppliers, with only a few parts imported. [54] The envisioned network, together with upgraded existing lines, would total 12,000km (7,456mi) in length. [180] If the rail-backed loans cannot be fully repaid, they may be refinanced or the banks may seize ownership of the railways. The CRH380AL train set, shown above at the, Growth of China's high-speed rail network, Early passenger-dedicated high-speed rail lines, Passenger-freight railways and connecting conventional lines. [183] In 2016, the high-speed rail revenue was 140.9 billion RMB Yuan (20 billion USD), while the same term interest from at least 3300 billion debt of its construction was 156.8 billion RMB Yuan (22.4 billion USD). IPO for China's most profitable high-speed train - Asia Times [4] China's HSR accounts for two-thirds of the world's total high-speed railway networks. Learn more about how Statista can support your business. They became known as passenger-designated lines (PDLs). This ambitious national grid project was planned to be built by 2020, but the government's stimulus has expedited time-tables considerably for many of the lines. For example, the BeijingTianjin intercity railway in its two full years of operation, delivered over 41 million rides. Please do not hesitate to contact me. [210] China currently holds many new patents related to the internal components of these trains, re-designed in China to allow the trains to run at higher speeds than the foreign designs allowed. The Shanghai Maglev is the world's first high-speed commercial magnetic levitation ("maglev") line, whose trains run on non-conventional track and reach a top speed of 430km/h (267mph). China Railway reports the number of passengers carried by high-speed EMU train sets and this figure is frequently reported as high-speed ridership, even though this figure includes passengers from EMU trains providing sub-high speed service. [188] As of October 2013, high-speed rail was carrying twice as many passengers each month as the country's airlines. In the first three quarters of 2012, the line lost 1.87 billion. Are China's Railways Profitable? - Here Comes China! There have been numerous attempts to extend the line without success. The global expansion of China's high-speed rail sector is particularly problematic because of its disregard for profit. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Number of train passengers in China 2009-2021, Passenger transport volume of highspeed railways in China 2008-2021, Share of high-speed rail network length among whole rail network in China 2014-2021, Fastest trains in the world by record speed 2022, Length of highspeed railway lines in use worldwide in 2021, by country, Length of the highspeed railway lines in operation worldwide in 2021, by country (in kilometers), High-speed train lines under construction worldwide in key countries 2022, High-speed lines under construction worldwide as of September 2022, by country (in kilometers), World's fastest trains in 2022, ranked by record speed (in kilometers per hour), Value of the largest rail infrastructure projects in the world in 2022, Value of the largest rail infrastructure projects worldwide as of February 2022 (in billion U.S. dollars), Forecast: estimated value of investment in new transport infrastructure in China 2020, Total estimated value of investment in new transport infrastructure in China 2020 (in billion yuan), Total volume of passenger transported by highspeed railways in China from 2008 to 2021 (in billions), Share of electrified railroad routes in China 2021, Degree of electrified railroad routes in China from 2005 to 2021, Length of express railways in China 2008-2021, Total length of operation network of high-speed railways in China from 2008 to 2021 (in 1,000 kilometers), Length of newly built express railways in China 2014-2021, Annual increase in the length of the operational high-speed rail network in China from 2014 to 2021 (in 1,000 kilometers), Share of China's high-speed rail operating network length in the entire railroad system from 2014 to 2021, Length of express railways by leading provinces in China 2021, Leading regions in China with high-speed rail networks exceeding 10,000 km by 2021 (in 1,000 kilometers), Number of high-speed trains in China 2013-2021, Number of high-speed trains in China from 2013 to 2021, China's high-speed train growth rate 2014-2021, Growth rate of high-speed trains in China from 2014 to 2021, Number of Fuxing Hao high-speed trainsets in China 2013-2021, Number of Fuxing Hao high-speed trainsets (standard EMU)* in China from 2013 to 2021, China: production of bullet trains by month 2020-2022, Production of bullet trains in China from February 2020 to February 2022, Cost distribution of China's Fuxing high-speed trainsets 2021, by component, Cost percentage distribution of China's Fuxing high-speed trainsets in 2021, by component, Largest high-speed railway stations in China 2020, Top 10 largest high-speed railway stations in China as of 2020, Revenue of the China State Railway Group (China Railway) 2017-2021, Revenue of the China State Railway Group Co., Ltd. (China Railway) from 2017 to 2021 (in trillion yuan), Number of China State Railway Group's high-speed trains 2017-2021, Number of high-speed trains owned by China State Railway Group Co., Ltd. from 2017 to 2021, Revenue of the China Railway Group (CREC) 2011-2021, Revenue of the China Railway Group (CREC) in China from 2011 to 2021 (in billion yuan), Operating revenue of CRRC Cor., Ltd. 2014-2021, Operating revenue of CRRC Cor., Ltd. from 2014 to 2021 (in billion yuan), Beijing-Shanghai High Speed Railway: revenue 2017-2021, Revenue of Beijing-Shanghai High Speed Railway Co., Ltd. from 2017 to 2021 (in billion yuan), Number of passengers on the Beijing-Shanghai high-speed rail line 2016-2021, Number of passengers transported on the Beijing-Shanghai High-speed rail line from 2016 to 2021 (in millions). [99] The speed of the remaining 350km/h (217mph) trains between Shanghai and Hangzhou was reduced to 300km/h (186mph) as of August 28, 2011. China's high-speed railway between Beijing and Shanghai served 130 million people last year, and a shareholder says it made a net profit of $1 billion--its first since opening in 2011. Several sections of the national grid, especially along the southeast coastal corridor, were built to link cities that had no previous rail connections. Most of the new lines follow the routes of existing trunk lines and are designated for passenger travel only. [183], China's high-speed railway network is by far the longest in the world. It is also known as "the most profitable" rail line, with annual growth rate of profits registered at 39.4 percent from 2014 to 2019. Some of these new railways are being built to accommodate speeds of 200250km/h (120160mph) for both passengers and freight. [87][88] Quality and safety concerns also affected plans to export cheaper high-speed train technology to other countries. The Economist estimates Liu accepted 1billion of bribes ($152million) in connection with railway construction projects. To better compete with foreign trainmakers, the central authorities arranged for the merger of the country's two main high-speed train-makers, CSR and CNR, into CRRC. In June 1998, at a State Council meeting with the Chinese Academies of Sciences and Engineering, Premier Zhu Rongji asked whether the high-speed railway between Beijing and Shanghai still being planned could use maglev technology. Bombardier, the first foreign train-maker to form a joint venture in China, has been sharing technology for the manufacture of railway passenger cars and rolling stock since 1998. As of 2007, the Qinhuangdao-Shenyang high-speed railway, which carried trains at top speed of 250km/h (155mph) along the Liaoxi Corridor in the Northeast, was the only passenger-dedicated HSR line (PDL) in China, but that would soon change as the country embarked on a high-speed railway construction boom.
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