10 years later, the Beijing-Shanghai line on the fast track to high-speed glory
The COVID-19 outbreak hit China’s high-speed rail industry last year, but the Beijing-Shanghai section, which turns 10 on Wednesday, remained profitable, spurring the introduction of a new model of the train to high-speed Fuxing on the main stretch, providing better services and safety, said senior officials of the company that operates the line.
Beijing-Shanghai High Speed Railway Co Ltd, the operator, listed in Shanghai in January 2020, just before the outbreak of the epidemic. Through a series of efforts, the Beijing-Shanghai high-speed line managed to improve the quality of its services and adjust the operational capacity despite the impact of the epidemic on the number of passengers.
It helped the company overcome difficult times. “With the support of China State Railway Group Co Ltd, the company has effectively adjusted its transport capacity and resisted the downward trend, achieving 25.24 billion yuan ($ 3.9 billion) in revenue. business, which generated a fairly good profit last year, achieving a better-than-expected performance, ”said Wen Weiming, chief accountant of the Beijing-Shanghai high-speed railway.
The 1,318-kilometer railway was opened to the public on June 30, 2011. The company operates the country’s busiest and most populous high-speed line that connects the Beijing-Tianjin-Hebei region and the Beijing-Tianjin-Hebei region. Yangtze River, both of which are densely populated and economically vibrant.
The company continued to reduce operating costs, optimize the passenger service experience and improve transportation efficiency this year.
In the first quarter, revenue grew nearly 12% year-on-year to 5.74 billion yuan, reflecting strong resilience and effective risk control, Wen said.
A new model of Chinese Fuxing high-speed train, known as the CR400AF-BZ, can carry 1,285 passengers and shortens the journey time to 4 hours and 37 minutes.
The high-speed train integrates the internet, cloud computing, big data, 5G and other new technologies to provide convenient, online access for passengers.
On-board amenities include smart lighting in the washrooms, smart vending machines in dining cars, as well as more stable mobile telephony and internet access.
Over the past decade, the Beijing-Shanghai high-speed rail line has continuously improved its services by increasing the speed of trains, using a flexible ticket pricing strategy and diversifying offerings on trains, said Shao Changhong. , general manager of the company.
“Along with the increase in the frequency and number of trains, there has been a steady increase in the number of passengers,” Shao said.
Profitability meant that the company could invest heavily in the research, development and application of advanced technologies and facilities, which allowed to optimize the capacity and raise the level of service, thus meeting the needs. needs of various passengers, Shao said.
The company’s successful listing is a milestone for the securitization of high-speed rail assets, said Wan Fang, a director of the company’s board of directors appointed by Ping An Asset Management Co, the railroad’s second-largest shareholder. high-speed Beijing-Shanghai.
Wan said the development of high-speed railways over the past decade is a testament to both the effective leadership of the Chinese Communist Party and the strengths of the Chinese political system. They provide the nation with superb coordination capacity and strong project execution power, which made the project costing over 200 billion yuan possible.
“The Beijing-Shanghai high-speed railway has shown that with a good business model, other high-speed railway projects can also be developed, to stimulate the development of a region. China’s high-speed rail industry has a bright future, thanks to Beijing -The success of the Shanghai line, ”said Wan.
In 2008, with the aim of supporting the central government’s decision to build the mega project, an insurance fund consortium led by Ping An Asset Management Co was launched.
Over the past decade, 1.35 billion passenger trips have been made safely on the railway, according to a report by the Xinhua News Agency citing China State Railway Group Co Ltd.
The railway became profitable in 2014 and has been since. The company’s net profit jumped to an annual average of 39.4% between 2014 and 2019.