is china high speed rail profitable

[45] According to CSR president Zhang Chenghong, CSR "made the bold move of forming a systemic development platform for high-speed locomotives and further upgrading its design and manufacturing technology. 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. According to Xinhua News Agency, the aggregate results of the six Speed Up Campaigns were: boosting passenger train speed on 22,000km (14,000mi) of tracks to 120km/h (75mph), on 14,000km (8,700mi) of tracks to 160km/h (99mph), on 2,876km (1,787mi) of tracks to 200km/h (124mph) and on 846km (526mi) of tracks to 250km/h (155mph). 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. For foreign train-makers, technology transfer is an important part of gaining market access in China. The CRH380A/AL, the first indigenous high-speed train of the CRH series, entered service on the Shanghai-Hangzhou High-Speed Railway on October 26, 2010. [63][64], Following the deadly crash, the Chinese government suspended new railway project approvals and launched safety checks on existing equipment. The institution also found "a broad range of travelers of different income levels choose HSR for its comfort, convenience, safety and punctuality. Zhang Jianwei, President and Chief Country Representative of Bombardier China, stated that in a 2009 interview, Whatever technology Bombardier has, whatever the China market needs, there is no need to ask. [121] The number of high-speed train sets in operation grew from 1,277 pairs in June to 1,556.5 pairs in December. [178] In 2013, ridership totaled 25.85million. Rail Vehicle Market Report is highly -intensive driven by high R&D investment and has strong product analysis to maintain growth and ensure long-term monetization with a forecast period of 2023-2029. Published by Statista Research Department , Feb 3, 2023. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Critics both in China and abroad have questioned the necessity of having an expensive high-speed rail system in a largely developing country, where most workers cannot afford to pay a premium for faster travel. [37] Alstom of France, Siemens of Germany, Bombardier Transportation based in Germany and a Japanese consortium led by Kawasaki all submitted bids. Almost all HSR trains, tracks, and services are owned and operated by the China Railway Corporation under the brand China Railway High-speed (CRH) with two exceptions being the Shanghai Maglev Train, which is operated by the Shentong Metro Group, and GuangzhouShenzhenHong Kong Express Rail Link (XRL), which is partially operated by the Hong Kong-based MTR Corporation. [34] These concerns have prevented the construction of the proposed extension of the maglev to Hangzhou. According to the filing, published by the China Securities Regulatory Commission on Friday, Beijing-Shanghai High Speed Railway, which operates the 1,300km (807 mile) line, booked a net profit of . For example, the BeijingTianjin intercity railway in its two full years of operation, delivered over 41 million rides. The Shanghai Maglev Train, a turnkey Transrapid maglev demonstration line 30.5km (19.0mi) long. [20] It was faster than the fastest trains in Japan at the time. [21] In December 1990, the Ministry of Railways (MOR) submitted to the National People's Congress a proposal to build a high-speed railway between Beijing and Shanghai. Examples of technology transfer include Mitsubishi Electrics MT205 traction motor and ATM9 transformer to CSR Zhuzhou Electric, Hitachis YJ92A traction motor and Alstoms YJ87A Traction motor to CNR Yongji Electric, Siemens TSG series pantograph to Zhuzhou Gofront Electric. The GuiyangGuangzhou high-speed railway and LanzhouXinjiang high-speed railway are both suffering from high maintenance cost due to harsh climate conditions and complicated terrain structure. Total investments in new rail lines including HSR reached $49.4billion in 2008 and $88billion in 2009. By the mid-1990s, average train speed in China was about 60km/h (37mph). This 405km (252mi) standard gauge, dual-track, electrified line was built between 1999 and 2003. [123], The government actively promoted the export of high-speed rail technology to countries including Mexico, Thailand, the United Kingdom, India, Russia and Turkey. [158] The Zhengzhou-Xian HSR since opening in February 2010 was expected to generate revenues of 0.6billion in its first full year but must make interest payments of 1.1billion. [101] From July to September, high-speed rail ridership in China fell by nearly 30 million to 151 million trips. [180] If the rail-backed loans cannot be fully repaid, they may be refinanced or the banks may seize ownership of the railways. [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. certain regional "intercity" HSR lines with a design speed of 200350km/h (120220mph). Because public transportation is a service provided by the government, it serves for the entire national life and economic development. [71] The CRH380A trainsets on the BeijingShanghai high-speed railway could reach a top operational speed of 380km/h (240mph) but were limited to 300km/h (186mph). [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). Euro Carex (Europe Cargo Rail Express) is founded in April 2009 as an international non-profit association. In the same year, the Ministry of Science and the MOR agreed to a joint action plan for the indigenous innovation of high-speed trains in China. It opened for operations in March 2004, and transports passengers between Shanghai's Longyang Road station and Shanghai Pudong International Airport. [55][56], By January 2011, China had the world's longest high-speed rail network with about 8,358km (5,193mi)[57] of routes capable for at least 200km/h (124mph) running in service including 2,197km (1,365mi) of rail lines with top speeds of 350km/h (217mph). Work on the, Facilitates cross-city economic integration and promotes the growth of. Opponents noted that high-speed rail in other countries were expensive and mostly unprofitable. 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). In July 2016, the state planners reorganized the national HSR network including HSR lines in operation, under construction and under planning into eight vertical and eight horizontal high speed rail corridors, almost doubling the network.[189][190]. [141] The government also articulated the importance and urgency of assuring the capacity of railway staff, especially their familiarity with telecommunication and signaling testing in the official investigation of the Wenzhou train collision. [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. . In 2003, the MOR was believed to favor Japan's Shinkansen technology, especially the 700 series. Large construction debt-loads require significant revenues from rider fares, subsidies, and/or other sources of income, such as advertising, to repay. [188] Flights on routes over 1,500km (930mi) are generally unaffected. This is China High Speed Rail! . The completion dates are 2020 and 2021.[196]. China Railway assumed control of complete railway network that was built by the dissolved Ministry of Railways. Photo: People's Daily "[18] EMU train sets have no more than 16railcars with axle load not greater than 17tonnes and service interval of not less than threeminutes. 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. The train operated in commercially on conventional rail lines in southwest China from 2007 to 2010. In 2004, the Shanghai Maglev Train became the world's first commercially operated high-speed maglev. Some 4,715 kilometres (2,930mi) of new high-speed railways would be opened, and by the end of 2011, China would have 13,073 kilometres (8,123mi) of railways capable of carrying trains at speeds of at least 200km/h (124mph). passenger dedicated lines (PDLs) with a design speed of 350km/h (217mph), regional lines connecting major cities with a design speed of 250km/h (155mph), and. As of 2022, the China State Railway Group has had a debt of around $900 billion USD, according to Nikkei. August 18, 2020. China's high-speed rail is not profitable, and it is steadily losing money. As of 2021, the operation length of the high-speed rail (HSR) in China amounted to around . [106] As of October 2011, the MOR was reportedly concentrating remaining resources on fewer high-speed rail lines and shifting emphasis to more economically viable coal transporting heavy rail. Are you interested in testing our business solutions? [52] They are competing directly with the established European and Japanese manufacturers, and sometimes partnering with them. [42] They are known as CRH2A. 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. [183], China's high-speed railway network is by far the longest in the world. The most important key figures provide you with a compact summary of the topic of "High-speed rail in China" and take you straight to the corresponding statistics. [Online]. "China to Bid on US High-Speed Rail Projects" A.P. The BeijingShanghai high-speed railway, the second major cross-regional line, opened in June 2011 and was the first line designed with a top speed of 380km/h (236mph) in commercial service. The high-speed rail (HSR) network in the People's Republic of China (PRC) is the world's longest and most extensively used - with a total length of 42,000 kilometres (26,000 mi) by the end of 2022. [77][79][80][81][82] Several carriages derailed. We are happy to help. Read how federal. [209], China Railway High-speed runs different electric multiple unit trainsets, the name Hexie Hao (simplified Chinese: ; traditional Chinese: ; pinyin: Hxi Ho; lit. Photo . An extended version of the Fuxing bullet train is expected to . [178] In September 2010, daily ridership averaged 69,000 or an annual rate of 25.2million. [102] New projects were put on hold and completion dates for existing projects, including the Tianjin-Baoding, Harbin-Jiamusi, Zhengzhou-Xuzhou and Hainan Ring (West), were pushed back. Profit from the additional features of your individual account. [76][77][78] The accident occurred when one train traveling near Wenzhou was struck by lightning, lost power and stalled. State planning for China's current high-speed railway network began in the early 1990s under the leadership of Deng Xiaoping. In October 2010, CRH service more than 1,000 trains per day, with a daily ridership of about 925,000.[193]. As per the official statement of National High-Speed Rail . In China, high-speed rail service is competitive with road and air transport for distances of up to about 1200 km. "Michael Forsythe "Letter from China: Is China's Economy Speeding Off the Rails? As soon as this statistic is updated, you will immediately be notified via e-mail. China's high-speed rail network appears to be following this trend. [37] It supplied the technology for the CRH3C, based on the ICE3 (class 403) design, to CNR's Tangshan Railway Vehicle Co. Ltd. [60] Zhang was estimated to have misappropriated to his personal overseas accounts the equivalent of $2.8 billion. The trains G403/404 and G405/406 for the Beijing West (Beijingxi) - Kunming South (Kunmingnan) service (distance 2,760km (1,710mi), travel time about 10 1/2 hours), which began service on January 1, 2017, became the longest high-speed rail service in the world. [219] China is also competing with Japan, Germany, South Korea, Spain, France and Italy to bid for California's high-speed rail line project, which would connect San Francisco and Los Angeles. liability for the information given being complete or correct. A Shanghai-Hangzhou maglev line was also initially discussed but later shelved in favour of conventional high-speed rail. The Qinhuangdao-Shenyang Line showed the greater compatibility of HSR on conventional track with the rest of China's standard gauge rail network. In common parlance, high-speed train service in China generally refers to G-, D- and C-class passenger train service. It was profitable every year between 2014 and 2019, according to national railway operator China State Railway Group Co. to incorporate the statistic into your presentation at any time. The protests gathered over a million signatures and politicized the issue. Ministry held the power drafting policy on railroad transposition, development of the rail network and rail infrastructure in China. [158], Overall, ridership is growing as the high-speed rail network continues to expand. [141][142] In 2016, Chinese railways carried almost 2 trillion ton-kilometers of freight and over 1 billion passenger-kilometer of passengers, making it one of the world's most intensively used freight and passenger railway networks in the world. ", Bloomberg, Number of high-speed railways in China as of August in 2019, by profit status and speed Statista, https://www.statista.com/statistics/1218788/china-profitability-of-high-sped-railway-by-route/ (last visited May 01, 2023), Number of high-speed railways in China as of August in 2019, by profit status and speed [Graph], Bloomberg, August 18, 2020. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Tentative services began operation in 2003,[7] while the China Railway High-speed (CRH) was introduced in April 2007 and the Beijing-Tianjin intercity rail, which opened in August 2008, was the first passenger dedicated HSR line. Trains on the Beijing-Tianjin high-speed line and a few other inter-city lines remained at 350km/h (217mph). The biggest cost savings were found to be time saved by replacing automobile and air trips, which contribute to increased traffic and delays at each endpoint respectively. Manufacturers of electric locomotives - based on market share 2013-2017, Market share of high-speed rail construction in China 2020, by leading player, Beijing-Shanghai High Speed Railway net profit 2017-2021, Public expenditure on transport infrastructure in China 2012-2022, Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. Annual car sales worldwide 2010-2022, with a forecast for 2023, Battery electric vehicles in use worldwide 2016-2021, Annual gas prices in the United States 1990-2021, Automotive industry worldwide - statistics & facts, Motorcycle industry in the United States - statistics & facts, Profit from additional features with an Employee Account. The introduction of more non-stop service between large cities also helped to reduce travel time. [182], The MOR faces a debt-repayment peak in 2014. Show sources information This percentage increased to 65%, 69% and 72% in the year of 2013, 2014 and 2015, respectively. China's once profitable railways records $900bn debt over push for growth What was once China's profitable high-speed railways is now heading towards a trillion-dollar disaster after reports of debt nearing a whopping $900 billion ANI Asia China's railway records $900 bn debt amid push for expansion [83] State-run Chinese media confirmed 40 deaths, and at least 192 people hospitalised, including 12 who were severely injured. [156] In an analysis conducted in 2019, only five out of fifteen high speed railway lines with travel speeds reaching 350 kilometers per hour, were able to cover all costs that included both the operating and capital costs.[157]. [18], Thus, high-speed rail service in China requires high-speed EMU train sets to be providing passenger service on high speed rail lines at speeds of not less than 200km/h (124mph). ZhengzhouXi'an high-speed railway is estimated to run 59 trains in 2010 and 125 trains in 2018, yet in 2016 there are merely around 30 trains on operation, causing a 1.4 billion loss. But high-speed trains often have to share tracks with slower, heavy freight trains in some cases with as little as 5 minutes headway. Supporters argued that high-speed rail would boost future economic growth. Kawasaki's cooperation with CSR did not last as long. [131], In 2016, with the near completion of the National 4+4 grid, a new "Mid-to-Long Term Railway Network" Plan was drafted. This line between northern China's two largest cities, was the first in the country to accommodate commercial trains with top speed of 350km/h (217mph) and featured the CRH2C and CRH3C train sets. 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