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World Bank: China's high-speed rail mileage exceeds 29,000 kilometers with an investment return of 8%.

via:快科技     time:2019/7/9 17:08:10     readed:402

Ruizer, Director of China Bureau of the World Bank, said: "China has built the world's largest high-speed railway network, which has a far greater impact than the railway industry itself. It has also brought about changes in urban development patterns, tourism growth and the promotion of regional economic growth. The general public can now travel in a more convenient and reliable way than ever before, and the construction of the high-speed rail network has laid the foundation for reducing greenhouse gas emissions in the future.

Based on the experience of research and loan projects and relevant studies in China, some main experiences and practices are summarized for other countries considering investment in high-speed rail construction.

The report considers that a key factor in China's high-speed rail development is the formulation of a long-term comprehensive plan, which provides a clear framework for the development of the high-speed rail system. China's Medium- and Long-term Railway Network Planning looks forward to the next 15 years, and coordinates with a series of five-year plans. In China, high-speed rail has a competitive advantage over automobiles and airlines in 1200 kilometers. Ticket prices are only a quarter of the basic fares of other countries. It is very competitive, so that high-speed rail can attract passengers from all income groups, with a passenger volume of more than 1.7 billion a year. Less populous countries need to carefully select routes to balance the broad economic and social benefits of improved connectivity with financial viability.

A key factor in cost control is the standardization of design and procedures.The construction cost of China's high-speed railway network averages $17 million to $21 million per kilometer, about two-thirds of that of other countries.

The report also examines the economic benefits of high-speed rail services.It is estimated that the return on investment of China's high-speed rail network is 8%, which is much higher than the capital opportunity cost of long-term large-scale infrastructure investment projects in China and most other countries.。 The benefits of high-speed rail include shortening travel time, improving travel safety, promoting labor mobility and tourism. With some passengers moving from cars and planes to high-speed rail, the high-speed rail network reduces operating costs, reduces traffic accidents, alleviates highway congestion and reduces greenhouse gas emissions.

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