By Lai Youwei　

Date: 2004/10/20

Abstract:

China's railway construction should speed up to meet the requirement of the national economy and social development. However, the current financing and investment system is the major obstacle holding back the development of the railway system which could be found in a great gap of funding needed for railway construction, a rigid control in financing that constrains the development, the missing investment responsible agency, and a need of new mechanism on railway with public utility nature. A positive and steady reform in financing and investment system in the railway sector is required.