Railway infrastructure investment continues to rise. Nearly March approaches the sum of the first August
railway infrastructure investment continues to rise. Nearly March approaches the sum of the first August
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Guide: 64.3 billion yuan, 69.8 billion yuan, 70.1 billion yuan. From September to November, railway infrastructure investment has remained high. The total investment in the last three months has reached 204.2 billion yuan, close to the total investment in the first August of this year. Zhao Jian, a professor at the school of economics and management of Peking University, said in an interview that in addition to issuing bonds, these funds
64.3 billion yuan, 69.8 billion yuan, 70.1 billion yuan. From September to November, the investment in railway infrastructure remained at a high level. The total investment in the last three months reached 204.2 billion yuan, close to the total investment in the first eight months of this year
Zhao Jian, a professor at the school of economics and management of Peking University, said in an interview that in addition to raising funds by issuing bonds, these funds mainly come from bank loans. "The country mainly wants to use investment to drive the economy, and railway is an industry that can be invested a lot."
there was a blowout in railway investment at the end of the year
yesterday (December 11), the Ministry of Railways announced the latest data of railway investment in the previous November. From January to November, the Ministry of Railways completed a fixed asset investment of 507 billion yuan, an increase of 15.3 billion yuan, or 3.1%, from 491.6 billion yuan in the same period last year. Among them, the infrastructure investment was 431.9 billion yuan, an increase of 35.6 billion yuan, or 9%, from 396.3 billion yuan in the same period last year
by comparing several data, it is found that the railway fixed asset investment in November reached 81.8 billion yuan, of which the infrastructure investment reached 70.1 billion yuan, and both data remained at a high level. In particular, infrastructure investment: the railway infrastructure investment in November last year was 29billion yuan, an increase of 142% year-on-year in November this year. At the end of this year, railway infrastructure investment showed a "blowout" trend. From September to November, China's railway infrastructure investment totaled 204.2 billion yuan, compared with 227.7 billion yuan in the first August of this year
since the fourth quarter of this year, the rapid increase in railway investment has been directly reflected in specific projects, such as the Ministry of Railways' launching of the bidding for 6.1 billion yuan railway freight cars and 3 billion yuan ordinary passenger cars
in the second half of the year, some national key projects were started successively, including the Mengxi central China coal transportation channel with an investment of more than 150billion yuan through this kind of real use feedback, the Xi'an Chengdu Passenger Dedicated Line with an investment of 68.8 billion yuan, the Baoji Lanzhou passenger dedicated line with an investment of 64.7 billion yuan, and many urban rail projects. The intensive tide of construction will increase the number of new railway projects this year from 9 to 22
Shen Zhengyuan, a researcher in the transportation industry of CIC, said in an interview: "the reason for the high level of investment by the Ministry of Railways at the end of the year is mainly that more intercity rail lines are about to be launched, including Fuzhou Rail Transit Line 2, Fuping railway project and Urumqi Urban rail project. From this set of data, it can be seen that the construction of national investment in railway is in a steady upward stage, and the intensity of national railway infrastructure construction will be increased."
this year, the Ministry of Railways increased fixed asset investment for four consecutive times, increasing the railway fixed asset investment plan to 630billion yuan, while infrastructure investment rose from 406billion yuan set at the beginning of this year to 516billion yuan after three increases
in order to complete the tasks of the whole year, the Ministry of Railways needs to complete 84.1 billion yuan of infrastructure investment and 123 billion yuan of fixed asset investment in December. In this regard, Zhao Jian believes that the task of achieving another 10billion yuan month on month growth in infrastructure investment is likely to be completed, but if the fixed asset investment is to increase to more than 100billion yuan, it is not optimistic, "because railway investment has a preliminary process, it may be difficult to achieve such rapid growth within a month."
SHEN Zhengyuan believes that the possibility of the Ministry of Railways to complete the annual investment task this year is low, "on the one hand, the task is heavy, and it is difficult to raise funds within a month; on the other hand, China's current macroeconomic situation is sluggish, and the activity of the financial market is low."
next year may continue high growth
next year, the climax of railway infrastructure investment is expected to continue. Wang Mengshu, an academician of the Chinese Academy of engineering, revealed that the investment plan and production mileage initially arranged next year may exceed that of this year. The investment in railway infrastructure is expected to exceed 516billion yuan, and the investment in fixed assets will also be maintained at 630billion yuan
according to the plan, China has arranged a total investment of 2.3 trillion yuan in railway infrastructure during the 12th Five Year Plan period. By 2015, the national railway operating mileage will reach about 120000 kilometers, the mileage of fast rail will be more than 40000 kilometers, and the railway in the western region will be 48000 kilometers. In 2011, the national railway completed a total investment of 461billion yuan. If the Ministry of Railways successfully completed the 516billion capital construction task in 2012, it means that about 1.3 trillion yuan of construction investment will be completed in the last three years of the 12th Five Year Plan period
however, capital has always been a problem that plagues railway investment. In November, the total investment of Fuzhou Rail Transit Line 2 project approved by the national development and Reform Commission was 18.227 billion yuan, of which the capital was 7.51 billion yuan, accounting for 41.2% of the total investment, which was borne by Fuzhou finance; Funds other than capital funds shall be settled by domestic bank loans
Zhao Jian said that there are various methods to measure the friction force received on the sales during sliding, but the funds for railway construction are still raised through debt funds such as bank loans and bond issuance. "Compared with bond issuance, the latter has low financing cost, and the Ministry of Railways tends to choose bond issuance, but bond issuance needs the approval of the national development and Reform Commission."
this year, the Ministry of Railways issued a total of 200billion yuan of Railway Bonds, including 150billion yuan of railway construction bonds, and 50billion yuan of medium and short-term securities lending
according to the financial report released by the Ministry of railways, as of the third quarter of 2012, the assets of the Ministry of railways were 4.3 trillion yuan, the liabilities were 2.66 trillion yuan, the asset liability ratio was 61.81%, and the after tax profit was -8.541 billion yuan. In 2010 and 2011, the debt ratio of the Ministry of Railways was 57.44% and 60.63% respectively
however, with the gradual formation of the high-speed railway network, the high profit and debt ratio of the Ministry of Railways is expected to be partially alleviated. Shen Zhengyuan said: "due to the long return period of high-speed railway investment, the Ministry of Railways will be in a state of high debt ratio for a long time. High debt ratio is common in power outage institutions of basic construction machinery such as railways, and the high debt ratio can be substantially solved only after the investment projects are stable and profitable."
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