In China, there are growing calls for more high-speed rail lines to meet rising demand and boost the national economy.
China is expected to add 2,500km (1,553 miles) of high-speed links this year, bringing the total length of the system to 44,500km.
Three new routes have been launched ahead of the eight-day “Golden Week” holiday starting on Friday: Fuzhou to Xiamen, Guangzhou to Shanwei and Shanghai to Nanjing Riverside.
“We expect an average annual investment amount of [from China State Railway Group] It will increase by 18% from 2023 to 2025 compared to last year,” Zheshang Securities said in a report, highlighting the role that railway investment plays in stabilizing economic growth.
China is rapidly advancing high-speed railways with construction companies using AI
China is rapidly advancing high-speed railways with construction companies using AI
Investment in railway-related fixed assets is growing at a much faster pace than investment in other infrastructure construction. Data released by the Office for National Statistics shows that road investment, funded by debt-strapped state and city authorities, rose by just 1.9% in the first eight months of 2023, up 23.4% year-on-year. . The Statistics Bureau announced this on September 15th.
Fixed asset investment at China National Railway Group, the operator of the world’s largest high-speed network, reached 432 billion yuan ($59 billion) in the January-August period, an increase of 7.2% year-on-year.
Investing in railway investments contributed to China’s economic recovery from the 2008 global financial crisis. And from 2014 to 2019, China spent more than 800 billion yuan annually on railways.
Total annual investment peaked at 824 billion yuan in 2015, then declined to just over 800 billion yuan over the next three years.
However, in 2020, the first year of the pandemic, railway investment fell to 782 billion yuan, falling below 800 billion yuan for the first time since 2013, and continued to decline to 749 billion yuan in 2021 and 711 billion yuan last year.
According to China Railway, there is great interest in rail travel during the upcoming Golden Week, with 22.9 million tickets reserved on September 15, when Golden Week tickets went on sale.
China vows to step up policy support after profit recovery in August
China vows to step up policy support after profit recovery in August
China Railway expects about 190 million train journeys to be made from September 27 to October 8, equivalent to an average of 15.8 million trips per day. This compares to 139 million trips taken from September 29 to October 7 in 2019, or an average of 15.4 million trips per day. The upcoming travel period will be even longer as it will include the Mid-Autumn Festival and National Day holidays.
“To cope with this year’s peak transport period, the railway department has added 1,850 special train services, including 320 direct trains to popular destinations. The number of passenger seats per day has increased from 2019 to 18.5. percent increase,” China Railways said.
According to a five-year transportation plan released by the State Council, the country’s cabinet, last year, the high-speed rail system will be extended to about 44,500 kilometers this year, and will reach 50,000 kilometers by 2025.