Railway Investment Has Entered The Era Of Negative Growth &Nbsp; Tianjin Railway Has Been Shut Down All The Time.

Railway Investment Entering the era of negative growth, many construction projects are "brakes".

In September 22nd, the weather was fine and the Yellow calendar said that we should repair and build the earth.

It is such a day that the Chen Zhuang village of Xushui County, Baoding City, which should be the construction site of Jinbao railway, is quiet. The village, which had been demolished in June, only had some bricks and stones to be cleared up in the sun. There was no roaring, busy people, no roaring machinery, no piles of reinforced concrete, and only dust left.

It was approved in 2010. It is known as a large passage connecting the East and west traffic arteries in Hebei. In this village, it has been closed for nearly half a year, and it has been nearly 4 months since Tianjin and Baoding stopped working.

The announcement of the "7. 23" Ningbo Wenzhou line motor vehicle accident report has entered the countdown. In September 20th, Tang Tao, member of the "7 / 23" accident investigation team, and professor of North Jiaotong University reflected on the back of the train accident from his own point of view. Construction period Problem. "I think many accidents in our country are directly related to the duration and speed." Tang Tao said.

Tang Tao thinks exactly the same as the Ministry of railways. In fact, since the beginning of this year, the speed of railway construction in China has slowed down sharply, and the growth rate of railway construction investment has been decreasing month by month, and the negative growth has even begun in the second half of this year. After the train accident, some railway projects simply stopped construction.

Embarrassing Jinbao Railway

In Chen Zhuang village, Xushui County, Baoding, a person in charge of the Construction Command Office of the Xushui Railway Traffic Protection Bureau told the "China Times" reporter that the progress of the work began to slow down as early as the beginning of April. "By the end of June, after the demolition was completed, there were almost no people in the whole building. There was only one man to take care of the equipment. " He said.

The man in charge of equipment is stationed in the Jinbao railway project not far from the traffic bureau. However, when the railway was shut down, railway construction had not yet started, and large-scale construction had not yet been carried out. Xushui County even had no equipment to manage, and the project department was often in an unmanned state.

Not only is the project located in Xushui County empty, but also the two part of the project in Tianjin is also tightly locked, and the grass at the gate grows tall and luxuriant.

In December 31, 2010, Jinbao railway limited liability company was established in Baoding. This is the first railway company registered in Hebei province with a registered capital of 12 billion yuan. Jinbao railway has a total investment of 22 billion 959 million yuan and is expected to open in early 2013. According to local media reports, "the founding meeting was held in Baoding, Hebei."

Although the project was approved only in March 2010, the time for approval was relatively late, but before the commencement date reached 2011, the Jinbao railway was still on the last train in 11th Five-Year.

According to the practice of railway construction and development in the past two years, all parties will intensify their time construction to complete the project ahead of schedule. Even on the Tianjin government website, there were news of the opening of the Tianjin railway line at the end of 2011.

As a matter of fact, because of the rush to catch the "last 11th Five-Year" bus, only ten railways started at the same time in December 2010 alone. But these so-called "start ups" are mostly shovel and shovel soil to complete the foundation laying ceremony, and their land acquisition work is often not yet started.

In April this year, the Secretary of the Bazhou Municipal Committee also made a special trip to the Jinbao railway construction site, and encouraged the early completion of the demolition.

But things are not always plain sailing.

"Jinbao railway Tianjin section, the whole process is 19.23 kilometers. Construction started last year. Now the project is temporarily shelved. Our construction workers have already been withdrawn from the whole line. Responsible for the construction of China Railway six Bureau Tianjin iron construction company, a staff member who does not want to be named, said.

According to the briefing, as of the time of downtime, Jinbao railway has completed several billion yuan investment, most of which is the cost of land acquisition and demolition.

The railway company is very poor.

"The owner said no funds, we can only withdraw." The staff said.

　　 To be straitened for money It is the owner's statement of the construction company and the local government. This is unacceptable to the Baoding municipal government.

"Demolition costs inside the city, counted in the railway shares. However, the demolition work has not yet been completed, the construction has not yet started, the owners said there was no money, said that the Ministry of railways, the construction fund provider, now does not lower the money. The above director of the Xushui County Traffic Bureau Jinbao Railway Construction Command Office complained to the "China Times" reporter. What is even more depressing is that the demolition has begun to evacuate people there. When the demolition is basically completed and the construction can be completed on a large scale, only one person will remain in the stands.

"Listen to the construction side said, this situation seems to be nationwide, in the past half a year, many railway shutdown projects." The person in charge said.

The capital shortage is not only the Jinbao railway, but also the Yunnan section of the Yun Gui railway and the Hefei Fuzhou high-speed railway.

According to the investment plan announced by the Ministry of railways, this year invested 700 billion yuan, of which 600 billion yuan was invested in capital construction, a decrease of 100 billion yuan over the previous year. From the specific investment plan arrangement, the monthly investment volume is slowing down compared with the same period last year. Since July, it has officially entered the era of negative growth. In the first 8 months of this year, 316 billion 469 million yuan was invested in railway infrastructure construction nationwide, a decrease of 11.1% over the same period last year.

"Now that the Ministry of Railways rarely allocate money, now the decentralization of financing rights will be shared with all enterprises." An insider introduced. However, such a way has made the railway enterprises and railway bureaus accustomed to big meals suddenly increase their pressure. "Chengdu Railway Station was originally planned to refurbish at the end of the year, but it is rarely heard in the near future. It is possible that the project will be postponed." A staff member of the Chengdu Railway Administration said.

And after the "7 / 23" accident, even the railway related listed companies, financing has become a big problem. In September 19th, China South car (4.63, -0.03, -0.64%) refinancing, the scale has shrunk by 2 billion yuan, had to be held in November 7th to convene the second provisional shareholders' meeting in 2011 to consider the refinancing scheme and other bills. The new refinancing scheme is targeted at the company's controlling shareholder, CSR group, and the specific target that meets the CSRC requirements. There are no more than 10. The social security fund has apparently "quietly withdrawn" in the new scheme.

After the train accident, the railway stock is still promising, but it is generally downgraded compared with the previous one. CITIC construction investment analyst Li Lei said.

Financing is not easy and funds are tight. "Many projects are temporarily shut down without investment. We are building money now. We can stop and stop. The above Tianjin iron construction staff said. But at the same time, he said, "on the other hand, we do not say downtime. We all say that the construction of the project is slowing down. In fact, most of the equipment and workers have been withdrawn." He told reporters that this year's construction speed and project volume is much less than in previous years. "Now the capital of construction units, investors and the Ministry of Railways is very tight."

Semi annual report showed that the cash flow generated by China Railway (3.01, -0.01, -0.33%) in the first half of the year was -169.97 billion yuan, compared with only -5.45 billion in the same period last year. China Railway Construction (4.47, -0.02, -0.45%) decreased its cash flow in the first half of this year less than that of China Railway, but also reached -125.7 billion yuan, compared with 1 billion 420 million yuan in the same period last year.

Policy turn

Behind the shortage of railway funds is the turning of policy and the shadow brought by tragic accidents.

In February this year, the new minister of the Ministry of Railways Sheng Guangzu took office. He proposed that the construction of high speed rail should be "built on the construction and must be improved". The history of the high-speed rail overhaul and overhaul was terminated, and the railway construction actually slowed down.

Since then, the railway company suddenly found that money was not good enough. From February onwards, the national railway investment growth slowed down month by month, and finally entered negative growth in the second half of the year. The Ministry of railways, which has 2 trillion liabilities, announced to its subordinate units in the middle of the year.

In July 21st, the railway debt encountered a rare plight in the past: the original issue of bonds was 20 billion yuan, but the final effective bidding was only 18 billion 730 million yuan, of which more than 18 billion yuan was purchased by the joint venture underwriter, the Agricultural Bank and CDB.

Subsequently, the motor vehicle accident triggered a safety check on the whole road. "In fact, most of the railways are closed for safety inspections. After the train accident, the Ministry of Railways asked the whole road to carry out the inspection of safety and quality of the projects under construction, and the State Council also requested the railways that had not yet started to carry out safety assessment. A Tianjin railway staff said. Zhengyu railway, hajia passenger special school, Zheng Xuke special school, Hainan west ring and other projects were delayed construction in the security check. In addition, the Beijing high-speed railway, which was originally planned to open at the end of the year, will also be postponed to next year.

The staff also revealed that many railway lines in Hebei and Tianjin had been suspended in order to ensure the timely opening of Beijing-Shanghai high-speed railway before the extensive work stoppage resulted from the national railway safety inspection after the train accident. "Beijing-Shanghai high-speed railway consumes manpower and huge material resources, and requires delivery on time. Some sites and even supporting works are not completed yet. After the Beijing-Shanghai high-speed railway was completed in June and the motor vehicle accident occurred in July, many lines were temporarily shelved before they could return to work. He said.

Motor vehicle accident has become the last straw to crush camels. The railway construction which has slowed down has been hit hard again, and even affected the construction of urban rail transit.

For Ordos (16.48, -0.28, -1.67%) municipal government, the construction of a city track linking Dongsheng old city zone, Kangbashi new area and Erdos Airport can promote urban development. "We can enhance the popularity of Kangbashi." An official of the Propaganda Department of Erdos Municipal Committee introduced. However, after the motor vehicle accident, the plan was also postponed indefinitely.

Urban rail construction may be loose in the near future, but for railway construction projects, some of them will be suspended for some time.