Research On Enterprise-dominated Integrated Development Of Urban Rail Transit And Land

According to data released by the National Development and Reform Commission,a total of 35 cities urban rail transit projects in China were approved during the “13th Five-Year Plan”,with the approved more than 4,000 kilometers of new planned line length,and amount of about RMB 3 trillion.In the same year,the subway construction cost of Beijing exceeded RMB 1.5 billion per km,and achieving the average operating cost per person-time of RMB 7.82.According to the plan,the length of urban rail transit in Beijing will be greater than 1,000 km by 2022.Combined with the costs of upgrading the currently existing lines,optimizing the public ground transportation lines and other projects,the extra investment of more than RMB 400 billion will be required.As the urban land price and rail transit project costs rise,the non-virtuous cycle mechanism of“relying on loans for construction and subsidies for operation” causes a huge financial problem to China’s urban rail transit construction and operation and maintenance in the future.Due to this construction and operation mechanism dominated by the government,China’s urban rail transit currently cannot achieve sustainable development.It has become an important issue that experts in many fields are concerned about in recent years to achieve sustainable urban transit construction and operation,efficiently guide the development of urban spatial pattern and ease the government’s financial burden.Particularly,experts focus on paying attention to integrated development and construction of urban transit and land,and driving sustainable development of rail transit by land value-added income.As we observe the issue throughout the world,rail transit enterprises in Japan and Hong Kong can truly achieve continuous profits,indicating that urban rail transit construction and operation can achieve economic sustainability.However,current researches on the integrated development of urban rail transit and land focus more on the integration relationship,methods,modes and other aspects.For example,there is research on the property right relationship between rail transit and land subject,and research on comprehensive development methods and modes for urban transit hub stations.Among literature researches on integrated development,there are a larger amount of researches on the ways of integrated development,but there are is no sufficient demonstration regarding researches on the subjects carrying out development,reasons for choosing a certain subject,and whether other subjects can more efficiently carry out integrated development.There are very few relevant researches in this field.The above-mentioned key issues leave room for this paper to carry out research in this regard.Proceeding from the perspective of market-oriented enterprise dominance,this paper has studied cases of integrated development of urban rail transit and land in Tokyo,Japan and Hong Kong to show that market-oriented enterprise dominance,rather than government dominance,is the prerequisite for high-quality coordinated integrated development of urban rail transit and land.Only in this way can China properly solve various problems in the investment and operation process,including avoiding short-term integrated development dominated by the government and reducing resistance and internal friction for cooperation caused by non-market behavior between multiple subjects,and can China finally achieve sustainable and coordinated integrated development.In order to conduct in-depth theoretical analysis of this issue,this paper constructs a theoretical research framework based on internalized mechanism analysis of long-term external impact and game analysis of development subjects,and uses the case study method and comparative analysis method as the major research methods to analyze the integrated development mode of enterprise dominance adopted by Japan and Hong Kong and the integrated development mode of government dominance adopted by Chinese mainland.Finally,by using the analytic hierarchy process and fuzzy assessment method,this paper has evaluated the performance of enterprise integrated operation of Tokyu Group from Japan and Shanghai Shentong Metro Group from China,and found that the performance of China’s current integrated development mode dominated by the government is far lower than the efficiency of integrated development dominated by market-oriented enterprises.Since internal transformation and realization of externalities requires a long-term process,this long-term process is a result that cannot be achieved by integrated development dominated by the government.It demonstrates the advantages of integrated development carried out by market-oriented enterprises.As a result,this paper provides academic support for China’s integrated development of urban rail transit and land,and even for China’s sustainable development of cities.In terms of innovation,this paper proceeds from the idea of integrated development dominated by enterprises to point out that urban rail transit construction and operation and land development along the rail transit lines should be operated by the same marketoriented subject.Only in this way can China avoid short-term integrated development dominated by the government and thus achieve sustainable integrated development.By using the externality theory and game theory to conduct comparative analysis of interest relationship between subjects of integrated development of urban rail transit and land,this paper fully proves that only dominance by market-oriented enterprises is efficient and sustainable.At last,this paper introduces some cases of integrated development in Japan and Hong Kong to thoroughly analyze their development process and long-term performance problems,and further logically and hierarchically verifies that integrated development dominated by market-oriented subjects is more efficient.Therefore,this research has concluded a reasonable mode and optimization strategy for integrated development of urban rail transit and surrounding land dominated by enterprises,and thus enriched the research achievements in terms of integrated development of urban rail transit and surrounding land.Based on this,this research provides decision-making basis for integrated development of urban rail transit and land dominated by enterprises in China and provides similar reference for making decisions on integrated development of urban rail transit and land in China,so that enterprises can truly achieve mutual promotion of urban rail transit development and urban land development,and make themselves bigger and stronger while improving utilization of urban resources.