Future Development Plans to Boost Railway Industry in China Till 2021
The Railway Industry in China transport and logistics market is a growing one primarily due to the effects of globalization. The Railway transport and logistics industry bring together the processes of production and distribution. The logistics industry is dependent on an efficient transportation system. A well-developed transport and logistics market helps to promote competitiveness and efficiency of enterprises.
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The research finds that China now has metros operating in 23 cities totaling more than 2700km with another 2850km under construction. Despite this huge programme, the development of expansion is struggling to keep up with the demand. Beijing, which now has the second largest metro in China suffers with severe overcrowding. According to the study, railway industry plays an important role on social development, which could improve the traffic condition and motivate regional economy. The country has always set transportation investment as the top priority of regional economic development. In recent years, a number of provinces and cities in China have established state-owned transportation investment initiatives in order to promote regional economic development.
Key projects of railway industry in China are also mentioned in the report such as:
• Beijing-Shanghai Express Railway
• Beijing Kowloon Railway
• Wuhan-Guangzhou Passenger Railway Line
• Qinghai-Tibet Railway
At the end of 2015, national fixed investment for railway was around RMB800 billion and railway mileage was 120 thousand km including 20 thousand km of high-speed rail. During the 13th Five Year plan, the investment in railway industry is estimated to reach RMB4000 billion and the network of railway will cover 80% county-level division reaching to those cities that have at least 200 thousand people. However, the network of high-speed railway has to cover 90% regional administrative centers and the cities that have at least 500 thousand people. According to the report, numerous opportunities are awaiting for the Chinese railway industry in the future.
Moreover, the report has also investigated Chinese railway industry from the following aspects:
• Market size
• Bellwether company
• Ticket price
• Demand and supply
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The report analyzes the railway mileage in west of China; earlier it was 48 thousand km which Later increased to 10%. The railway passenger volume was around 3 billion people, the passenger turnover volume was 1200 billion people; whereas, the total freight volume in 2015 was around 3 billion tones and the total freight turnover was 2,400 billion tonnes.
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