Study Toward Raising Modes Of Local Matching Funds In Guangxi Railway Construction

matching funds of Guangxi railway construction, such as government predominaRailway, as the leading and basic industry of national economy, is an important driving force to promote economic and social development and improve people’s livelihood. The development of railway construction also has a significant influence on the course of modernization. During the period of 12th Five-Year Plan, the great-leap-forward development of railway construction, the continuously expanding of railway network scales, and the great enhancement of railway transportation capacity, make a tremendous contribution to the development of the national economy. By the end of 2015, the national railway’s mileage reached 120,000 kilometers, in which 19,000 kilometers were high-speed railway. However, in terms of the overall development, it is still very grim because the distribution of railway-network structure is uneven, the total railway is less and the railway capacity is tight. Since the productivity of rail transport cannot meet the increasing demand of the whole society, the economic and social development is still restricted by the shortage of railway transport capacity.According to the MOR’s original The Medium-and-Long Term Railway Network Plan(2008) and The Notice on Promoting the Development of Guangxi Railway (high-railway to every city) by Comprehensively Deepen Reform of Guangxi Zhuang Autonomous Region, by the end of 2020, the national railway operating mileage will reach 15 million kilometers, while high-speed railway will reach 30,000 kilometers. At the same time, the railway operating mileage of Guangxi will reach 6,500 kilometers, in which high-speed railway is 2,300 kilometers. The government of Guangxi Autonomous Region will invest more than 100 billion Yuan in supporting construction. Guangxi railway will achieve the goal of "high-railway to every city", and build 12310 economic circles which will center on Nanning.It requires a sustained and large scale fund to support such a marvelous-scale and constant railway construction. From the data above, railway construction faces a huge funding gap for accomplishing the medium-and-long plan of railway development, especially in the situation that the subject of investment is single and the railway infrastructure is invested basically by the government. It is difficult to meet the demand for funds. Thus it can be seen, that according to existing railway investment model, both central and local governments will face with a problem that the railway construction is difficult in fund-raising. It is in this background, this paper combining the situation of Guangxi economic and social development and the development of railway, carries out a special study toward raising modes of local matching funds in Guangxi railway construction.At first, this paper described and analyzed the basic situation of Guangxi railway construction and funds-raising. On this basis, it pointed out the existing problems and difficulties in local matching fund-raising. At the same time, this paper introduced and learned from the domestic and foreign experience and practice. Combined the actual situations of Guangxi, this paper proposed the basic principles, general ideas and specific countermeasures which can meet the requirements of Guangxi railway construction followed by local matching fund-raising. It indicated that multi-channel and diversified fund-raising approaches are inevitable choices. However, due to the late reform of investment and financing system in China, complicated problems, and the unprecedented local matching funds of railway construction’s scale in recent years, many aspects were to be further study and practice. The author expected to make positive contribution for speeding up the construction of high-speed railway network and the reform of railway investment and financing system in Guangxi and even the whole country through in-depth study and practice,.The main conclusions are as follows:First, this paper discussed the difficulties and problems in local matching funds of Guangxi railway construction, such as synchronous railway construction, the poor efficiency of government’s financial investment; small-scale financing platform, heavy debt burden; single financing channels, limited financing capacity; limited system of railway management, difficulties in breaking multi financing of market-oriented and so on.Second, this paper proposed the principle in raising localting, cities and counties sharing together, playing a role in investing and financing platform of railway construction and meeting the financing conditions, timeliness, and the diversification of financing channels and so on.Third, this paper draws lessons from the experience of other domestic provinces or municipalities, proposing modes and innovation to raise local funds of railway construction. In addition, the author conducted application analysis, and its research results can be implemented directly. It was of significant practical value.