Cognition And Practice On Mode Of Investment And Financing Of Urban Railway

The outset of urban railways traces back to more than one hundred years ago, however, until the 1970's it began to attract the attention of people thus expanded in a large scale. Metroppolitans in developed countries like New York, Chicago, Paris, Berlin and Moscow etc have set up their urben railway networks, but for mid-ranking developed countries and regions, especially for developing countries, the construcion of the urban railway networks are in the ascendant.century is a peak period for urban railway development in big cities in China, and now there are more than thirty cities in this team. It is obvious that a golden time for urban railway construction has come. Urban railways have been put into operaion in big cities like Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Nanjing and Chongqing etc. While at the same time, in some places there is a blind rush to develop urban railway without considering their financial condition.Now the urban railway construction in China is basiclly a government conduct, the Construction undertaker is not a market entity in a real sense, without undertaking liabilities independently and lack of subjective desire to improve economic efficiency. Financing for urban railway development was tranfered from the traditional government-in-debt mode of 1970's in which the government took a lead gradually to that of makert operation. For example, Beijing metro line 4 takes PPP mode and Shenzhen metro line 4 takes BOT mode, which is an unchangeable trench. Only when the urban railway construction undertaker becomes the principle entity of market, the urban railway will develop in a more reasonable way, and this is also an effective measure to ensure construction quality, reduce costand improve investment efficiency.The author introduces the urban railway construction in big cities in China, and put emphasis on introducing the construction and planning of urban railway in Shenzhen. Through the financing of urban railway construcion in big cities, analyzes the common financing modes and brings forward resolution as how to reasonably deal with the present urban railway fever. In the end, author makes some suggestion for the future development of urban railway in Shenzhen.