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China’s railway network and traffic have seen an impressive expansion during the last 2 decades. This Special Focus discusses China’s ambitious plans for further expansion and some of the policy challenges involved.
Several factors make railway traffic well-suited for China and its economy.
Railway traffic has been rising rapidly.
With high utilization rates and traffic constrained by capacity, railway expansion is a key government objective.
The railway industry remains largely monolithic and centrally controlled.
China’s railway policy makers therefore face two immense strategic challenges.
To meet the infrastructure challenge, China has embarked upon the world’s biggest program of railway construction since the nineteenth century.
Rail freight transport will also be enhanced.
The risks of financial and technical overreach in implementing the Plan need careful management.
In pursuing the reform challenge, China Rail has taken great strides in improving the organization of China Rail.
The railway industry is increasingly embracing new participants.
New modes of financing are needed, but these may expose tensions in the institutional set up.
There is a need for institutional reforms, in addition to “system development”.
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