Research On Investment And Financing Mode Of Urban Rail Transit

With the rapid development of economy and urbanization, traffic jams and environmental pollutions are increasingly serious, which bring us a lot of trouble. Due to the advantages of high speed, large capacity and high punctuality rate, urban rail transit has become a good choice of many cities in China. However, the capital investment of urban rail transit is too large for the government to afford. Meanwhile, the long payback period and uneconomical features make it difficult to attract social investors. Under such circumstances, the government has to face two problems, the fund shortage and operating loss. So it’s of great importance for us to study on how to establish effective investment & financing mode, broaden the financing channels, improve the profitability of urban rail transit enterprise and then achieve sustainable development of urban rail transit.The paper first introduces the major investment & financing modes of urban rail transit, based on its economic properties and investment & financing attributes. Then it sums up the investment &financing characteristics in different cities by analyzing the typical cases at home and abroad. After that, it takes Hangzhou for example, introducing the city’s present status and future planning of urban rail transit, analyzing the investment & financing mode and operation status of the lines already run, and then summarizing the main problems of Hangzhou. Finally, the paper provides some suggestions about how to further optimize Hangzhou’s investment & financing mode from the perspective of government and urban rail transit enterprise.