A Study On City Metro Investment And Financing Mode And Operational Strategy In China

Although the construction of China’s city metro system started relatively late,its development speed is commonly observed by the international community.With the rapid development of the country’s economic strength and the continuous improvement of the people’s demand for living standards,the Chinese government is also actively increasing its investment in city metro system construction.It is estimated that by 2020,the total mileage of the metro will reach 6,000 kilometers and the investment will reach 4 trillion RMB.All kinds of data also indicate that the construction of China’s city metro network has entered a ’golden age’.However,in the construction and management of city metro,the two major problems of lack of construction funds and huge operating losses have also troubled us.Recently,in the ’Opinions on Further Strengthening Urban Rail Transit Planning and Construction Work’issued by the National Development and Reform Commission(NDRC),the central government has also halted the metro construction for 14 cities due to four reasons: local government debt ratio,budget revenue,regional GDP,and permanent population.The suspension of the construction of the metro has shown that the above two issues have not yet been well resolved.Therefore,this paper makes a more in-depth study of the selection of city metro investment and financing modes and the formulation of operational strategies.First of all,this paper starts with the basic nature of the metro,and analyzes its impact on the choice of investment and financing model and its operational strategy through a large number of literature studies and case studies.Subsequently,through the overall analysis and research of the metro system development system in 8 cities at home and abroad,we understand how the investment and financing model and operation strategy work together,and analyze whether the investment and financing model and the matching operation strategy adopted by it can be achieved successfully.And finally evaluates the choice of its investment and financing model and the formulation of its operating strategy.Then,this paper compares and analyzes the three modes of metro investment and financing that are commonly used in the world today,and the different operating strategies formulated under each investment and financing model,analyzes the factors that influence the selection and development model.And through a muti-criteria decision-making method and mode selection principle for qualitative and quantitative comprehensive analysis,the method of selection of investment and financing modes and the basis for the formulation of operating strategies are given.Finally,the paper analyzes the history of metro development in Chengdu and summarizes the advantages and disadvantages of its existing models.Taking the Chengdu Metro Line 18 under construction as an example,the paper analyzes the selection of investment and financing modes and the design of operational strategies in detail.In conclusion,the author present the suggestion of how to choose the investment and financing mode and formulate the operation strategy in China.