The Research On Investment And Financing High-Speed Railway Construction

As a new type of transportation, the high-speed railway’s development degreehas become an important sign to measure a country’s economic modernization. Theconstruction of high-speed railway needs large amounts of funds, so its source’sstability is considerable important. The goal of high-speed railway was proposed inthe long-term rail network planning and the twelfth five-year plan, will further expandthe scale of railway network. However, the large-scale railway construction needshuge amounts of funds support. Thus, it has become a strategic problem that needs tobe solved by which way to raise fund for high-way speed construction.To begin with, this paper introduces the research status at home and abroad aboutthe high-speed railway construction, expounding the basic concept, feature and therelated fundamental theory. Moreover, analyzes the research status and the existingproblems of our country’s high-speed railway construction about the investment andfinancing problems. And on this basis, this paper takes Beijing-Shanghai expressrailway as an example, analyzing the project profile, sources and methods of funding,results, and evaluating the case combined with investment and financing mechanismproposed. And then, summarize the common characteristic, enlightenment andexperience of high-speed railway construction’s investment and financing among thedeveloped countries, such as Japan, Europe, and America. Last but not least, structurean investment and financing mechanism of high-speed railway with multipleinvestment subjects in accordance with the principle of government leading, multipleinvestment and market operation, and propose some related countermeasures andsuggestions to promote the mechanism innovation from the aspects of governmentleading, market operation, communal participation and institutional guarantee.This paper defines the connotation and attribution of high-speed railway’sinvestment and financing, offsets the need of related research on the field of publicfacility construction investment. It constructs the investment and financingmechanism of high-speed railway, studying the main driving force, multiple channelsand methods of investment and financing by regarding them as a whole, stresses on itsintegration and synthesis, avoiding the one-sidedness that concerns the innovation,while ignores the main incentives of investment in some relevant research. Meanwhile,the suggestions and countermeasures may provide support to decision-maker, such as,government, enterprises, public and other stakeholders, which may help to improvethe way of investment and financing of high-speed railway construction, and promotethe long-term development of our country’s high-speed railway cause.