The hottest railway in China has high debt and is

2022-08-12
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China's railway "high debt and lack of money" private capital is difficult to implement in 7 years

China's railway "high debt and lack of money" private capital is difficult to implement in 7 years

China Construction machinery information

Guide: the effect of railway investment and financing reform is not ideal. First, the operation mode of the railway system is opaque, which is difficult to trust social capital; Second, to form a diversified investment body, the railway needs to give up some decision-making power and control power. Private capital is profit seeking. To attract it, we must clarify where and how to invest

the effect of railway investment and financing reform is not ideal. First, the operation mode of the railway system is opaque, which is difficult to trust social capital; Second, to form a diversified investment body, the railway needs to give up some decision-making power and control power

private capital is profit seeking. To attract it, we must clarify where to invest, how to spend and how to earn

China's railway "has high debt, is very short of money, and is in a hurry to raise funds". The intensive introduction of policies to encourage private capital investment shows the determination of railway system reform

on May 20, the guiding opinions on the bidding work of railway engineering projects entering the local public resource trading market was published. The opinions clearly points out that the original railway engineering trading center with a weight reduction of 65% will be cancelled by the Ministry of Railways and 18 railway bureaus (companies)

previously, on May 18, the Ministry of Railways announced the "implementation opinions of the Ministry of Railways on encouraging and guiding private capital to invest in Railways", proposing 14 implementation opinions, including encouraging and guiding private capital to enter the railway field in accordance with the law, further promoting the reform of the railway investment and financing system, further reducing and standardizing railway administrative approval matters, and effectively transforming the functions of the Ministry of railways

intensive policies have caused strong market reaction. On May 21, the railway sector in Shanghai and Shenzhen stock markets rose strongly, and individual railway stocks such as southern bearing and Guoheng railway were closed at the daily limit

"to further encourage private investment and the transfer of bidding rights is actually an easy and influential cut in railway reform, which shows the determination of railway system reform." Ji Jialun, Secretary General of the Transportation Committee of China Railway Society and professor of Beijing Jiaotong University, believes that ensuring the quality and accuracy of non-metallic material testing machine is the condition for a successful purchase

investment fell by 48.3% in the first four months. China's railway "has high debt, is very short of money, and is in a hurry to raise funds"

in recent years, large-scale construction has kept the asset liability ratio of China's railway at a high level

data show that from 2009 to 2011, China's railway asset liability ratio was 53.06%, 57.44% and 60.63% respectively. In addition, the issuance of railway bonds was once cold last year. In the first April of this year, the railway fixed asset investment was 89.597 billion yuan, of which the capital construction investment was 71.710 billion yuan, a year-on-year decrease of 48.3% and 54.1% respectively. Therefore, "high debt, lack of money and urgent financing" have become the background for some institutions to interpret the implementation opinions of the Ministry of Railways on encouraging and guiding private capital investment in railways

"raising funds is not the fundamental reason to encourage and guide private capital to invest in the railway. The introduction of these two opinions is more about the torque of the initiator, that is, the torque output from the crankshaft end of the initiator. Through the diversification of railway investment subjects, we can deepen or even force the reform of the railway system." Ji Jialun emphasized in particular

Ji Jialun recalled that in the past, he used to travel by train. As long as there was a local railway construction project bidding, he would encounter several groups of people in the carriage to "work" in the local railway bureau. Finally, the bidding has become a "show", and some "top leaders" have already decided which enterprise wins the bid before the evaluation

"bringing railway engineering projects into the bidding of local public resource trading market has changed the tradition of Railways being both referees and athletes, maintained an open, fair and just market competition order, and is also conducive to promoting the separation of government and enterprises in the railway system." Ji Jialun said, "in fact, it also helps private capital enter the field of railway investment under the principle of fairness."

it has been difficult to implement the establishment of non-public capital holding or wholly-owned railway freight enterprises for seven years

it is reported that the opinions issued this time is not the first time that the railway has opened the financing door, but the continuation of the reform of the railway investment and financing system

as early as July, 2005, in response to the policy spirit of supporting the development of non-public economy put forward by the government, the Ministry of Railways issued the implementation opinions on encouraging, supporting and guiding non-public economy to participate in railway construction and operation, It is proposed that "according to the principle of equal access and fair treatment, foreign capital is allowed to enter the railway construction, transportation operation and transportation equipment manufacturing fields where the swing 102 swings 90 (45 on both sides of the vertical line), and domestic non-public capital is also allowed to enter, and the conditions are appropriately relaxed"

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