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[75], On July 23, 2011, two high-speed trains collided on the NingboTaizhouWenzhou railway in Lucheng District of Wenzhou, Zhejiang Province. [182], The MOR faces a debt-repayment peak in 2014. In 2003, the MOR was believed to favor Japan's Shinkansen technology, especially the 700 series. Bombardier, through its joint venture with CSR's Sifang Locomotive and Rolling Stock Co (CSR Sifang), Bombardier Sifang (Qingdao) Transportation Ltd (BST). Former senior UN officer praises Chinese high-speed railway [33] At the time, planners were divided between using high-speed trains with wheels that run on conventional standard gauge tracks or magnetic levitation trains that run on special maglev tracks for a new national high-speed rail network. Show sources information It is also known as "the most profitable" rail line, with annual growth rate of profits registered at 39.4 percent from 2014 to 2019. It is the railway company that loses money, and the people and the whole country who profit. Mainland tourists said the high hotel prices and the fully resumed cross-border high-speed rail were factors in . 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. Elevated concrete prefab guideways that are above roads, water and other rail systems. China Doesn't Need Another 125,000 Miles of High-Speed Rail - Bloomberg How China's high-speed rail network got built so fast | CNN High-speed rail in China. [37] It supplied the technology for the CRH3C, based on the ICE3 (class 403) design, to CNR's Tangshan Railway Vehicle Co. Ltd. [187][53], The spread of high-speed rail has forced domestic airlines in China to slash airfare and cancel regional flights. China's flagship high-speed rail project in Indonesia is expected to become profitable 40 years after completion - not 20 as earlier projected - partly because plans to shift the capital to . Are you interested in testing our business solutions? According to the "Mid-to-Long Term Railway Network Plan" (revised in 2008), the MOR plans to build over 40,000km (25,000mi) of railway in order to expand the railway network in western China and to fill gaps in the networks of eastern and central China. Currently, you are using a shared account. 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. . [195] Additionally, another two lines are under construction, the Qingyuan Maglev and the Fenghuang Maglev. As of 2007, the Qinhuangdao-Shenyang high-speed railway, which carried trains at top speed of 250km/h (155mph) along the Liaoxi Corridor in the Northeast, was the only passenger-dedicated HSR line (PDL) in China, but that would soon change as the country embarked on a high-speed railway construction boom. Photo: People's Daily Chart. [4], China Railway High-speed (CRH) () is the major high-speed rail service provided by state-owned railway manufacturing and construction corporation China Railway. [102], In the first half of 2011, the MOR as a whole made a profit of 4.29 billion and carried a total debt burden of 2.09 trillion, equal to about 5% of China's GDP. In mid 2015, China has signed up to design a high-speed railway between the Russian cities of Moscow and Kazan, one of the first concrete examples of the new business with China that Russian officials have been pursuing with renewed vigor since falling out with the West. "[140], Experts expressed concern of the network's operational efficiency. Along with CRH3C, produced by Siemens and CNR Tangshan, CSR Sifang bid 60 sets of CRH2C. In 2021, China's high-speed rail network had covered 40,000 kilometers, connecting 93% of the country's cities with a population of over 500,000. 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. [178] To break even, the line must deliver 30 million rides annually. [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. The World Bank estimated in 2019 that currently, the average cost of the Chinese high-speed rail network was from 17 to 21 million dollars per km, which is one third less than the cost of most of Western countries. The line was electrified in 1998, and Swedish-made X 2000 trains increased service speed to 200km/h (124mph). [37] The State Council turned to advanced technology abroad but made clear in directives that China's HSR expansion could not only benefit foreign economies and should also be used to develop its own high-speed train building capacity through technology transfers. Public Transportation & Mobility Services, Intercity rail services in the United States, Get the best reports to understand your industry, World Rail Market Study - Executive Summary 2020. [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). [112][113] China's 1,580 high-speed trains were transporting 1.33 million passengers daily, about 25.7% of the overall passenger traffic. The line has a capacity of delivering 100million rides annually[180] and initial estimated repayment period of 16 years. As soon as this statistic is updated, you will immediately be notified via e-mail. This has allowed high-speed rail to attract more than 1.7 billion passengers a year from all income groups. Within two years of cooperation with Kawasaki to produce 60 CRH2A sets, CSR began in 2008 to build CRH2B, CRH2C and CRH2E models at its Sifang plant independently without assistance from Kawasaki. In the first three quarters of 2012, the line lost 1.87 billion. [188] By the spring of 2011, commercial airline service had been completely halted on previously popular routes such as WuhanNanjing, WuhanNanchang, XianZhengzhou and ChengduChongqing. [60] Zhang was estimated to have misappropriated to his personal overseas accounts the equivalent of $2.8 billion. In June 2002, a domestically made DJF2 train set a record of 292.8km/h (181.9mph) on the track. 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