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90-577: The station opened in 1911. Shenyang North railway station was formerly the "Liaoning main station" ( 遼寧總站 ) before 1946 and colloquially known as the "Old North Station" ( 老北站 ). The original building was built in 1927. The current Main Station Building ( 主站房 ) began construction in 1986, was commissioned for operation in December 1990, and became one of the five most important railway hubs in China, earning itself

180-797: A headway of three minutes or less. Thus, high-speed rail service in China requires high-speed EMU train sets to be providing passenger service on high speed rail lines at speeds of not less than 200 km/h (124 mph). EMU trains operating on non-high speed track or otherwise but at speeds below 200 km/h (124 mph) are not considered high-speed rail. Certain mixed use freight and passenger rail lines, that can be upgraded for train speeds of 250 km/h (155 mph), with current passenger service of at least 200 km/h (124 mph), are also considered high-speed rail. In common parlance, high-speed train service in China generally refers to G-, D- and C-class passenger train service. High-speed ridership statistics in China are often reported as

270-558: A "Northern Square" ( 北广场 ) on the north (Huanggu District) side of the railways, while the old waiting lounge in the original 16-storey Main Station Building is now relocated to a large elevated concourse that bridges over the rail tracks, with a pillar-less roof (the largest in mainland China) doming the platforms. The South Square ( 南广场 ) outside the Main Station Building was rebuilt into a multi-levelled complex, with two above ground forming an elevated airport-style drop-off zone and

360-746: A 2009 interview, “Whatever technology Bombardier has, whatever the China market needs, there is no need to ask. Bombardier transfers advanced and mature technology to China, which we do not treat as an experimental market.” Unlike other series which have imported prototypes, all CRH1 trains have been assembled at Bombardier's joint-venture with CSR, Bombardier Sifang in Qingdao . Kawasaki's cooperation with CSR did not last as long. Within two years of cooperation with Kawasaki to produce 60 CRH2A sets, CSR began in 2008 to build CRH2B, CRH2C and CRH2E models at its Sifang plant independently without assistance from Kawasaki. According to CSR president Zhang Chenghong, CSR "made

450-519: A 380 million yuan net profit. However, in 2013, only few lines had yet become profitable. On December 28, 2013, the total length of high-speed rail tracks nationally topped 10,000 km (6,200 mi) with the opening of the Xiamen–Shenzhen , Xian–Baoji , Chongqing−Lichuan high-speed railways as well as intercity lines in Hubei and Guangxi . In 2014, high-speed rail expansion gained speed with

540-618: A 60-train set order. It supplied the technology for the CRH3 C, based on the ICE3 (class 403) design, to CNR's Tangshan Railway Vehicle Co. Ltd . The transferred technology includes assembly, body, bogie, traction current transforming, traction transformers, traction motors, traction control, brake systems, and train control networks. Acquiring high-speed rail technology had been a major goal of Chinese state planners. Chinese train-makers, after receiving transferred foreign technology, have been able to achieve

630-837: A Japanese consortium led by Kawasaki all submitted bids. With the exception of Siemens which refused to lower its demand of CN¥ 350 million per train set and €390 million for the technology transfer, the other three were all awarded portions of the contract. All had to adapt their HSR train-sets to China's own common standard and assemble units through local joint ventures (JV) or cooperate with Chinese manufacturers. Bombardier, through its joint venture with CSR's Sifang Locomotive and Rolling Stock Co (CSR Sifang) , Bombardier Sifang (Qingdao) Transportation Ltd (BST) won an order for 40 eight-car train sets based on Bombardier's Regina design. These trains, designated CRH1 A, were delivered in 2006. Kawasaki won an order for 60 train sets based on its E2 Series Shinkansen for ¥9.3 billion. Of

720-477: A State Council meeting with the Chinese Academies of Sciences and Engineering , Premier Zhu Rongji asked whether the high-speed railway between Beijing and Shanghai still being planned could use maglev technology . At the time, planners were divided between using high-speed trains with wheels that run on conventional standard gauge tracks or magnetic levitation trains that run on special maglev tracks for

810-436: A degree of self-sufficiency in making the next generation of high-speed trains by producing key parts and improving upon foreign designs. Examples of technology transfer include Mitsubishi Electric ’s MT205 traction motor and ATM9 transformer to CSR Zhuzhou Electric , Hitachi ’s YJ92A traction motor and Alstom’s YJ87A Traction motor to CNR Yongji Electric , Siemens’ TSG series pantograph to Zhuzhou Gofront Electric . Most of

900-586: A designed speed of 380 km/h (236 mph), began on April 18, 2008. In the same year, the Ministry of Science and the MOR agreed to a joint action plan for the indigenous innovation of high-speed trains in China. The MOR then launched the CRH1-350 (Bombardier and BST, designated as CRH380D ), CRH2-350 ( CSR , designated as CRH380A/AL ), and CRH3-350 ( CNR and Siemens, designated as CRH380B/BL & CRH380CL ), to develop

990-537: A large ground-level area for bus stops, as well as a three-level underground city providing shopping malls, car parks, taxi pick-up and interchange with Subway Line 2, while also capable of rapid conversion into an air raid shelter if needed. This article about a railway station in Liaoning is a stub . You can help Misplaced Pages by expanding it . High-speed rail in China The high-speed rail (HSR) network in

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1080-565: A new generation of CRH trains with a top operation speed of 380 km/h (236 mph). A total of 400 new generation trains were ordered. The CRH380A/AL , the first indigenous high-speed train of the CRH series, entered service on the Shanghai-Hangzhou High-Speed Railway on October 26, 2010. On October 19, 2010, the MOR announced the beginning of research and development of "super-speed" railway technology, which would increase

1170-564: A new national high-speed rail network. Maglev received a big boost in 2000 when the Shanghai Municipal Government agreed to purchase a turnkey TransRapid train system from Germany for the 30.5 km (19.0 mi) rail link connecting Shanghai Pudong International Airport and the city . In 2004, the Shanghai Maglev Train became the world's first commercially operated high-speed maglev. As of 2023 , it remains

1260-555: A passenger-dedicated HSR network on a grand scale. Initiated by MOR's 2004 "Mid-to-Long Term Railway Network Plan", a national grid composed of eight high-speed rail corridors, four running north–south and four going east–west, was to be constructed. The envisioned network, together with upgraded existing lines, would total 12,000 km (7,456 mi) in length. Most of the new lines follow the routes of existing trunk lines and are designated for passenger travel only. They became known as passenger-designated lines (PDLs). Several sections of

1350-533: A point in time). A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments. In economic terms, it is one way of relating profits to capital invested. In business, the purpose of the return on investment (ROI) metric is to measure, per period, rates of return on money invested in an economic entity in order to decide whether or not to undertake an investment. It

1440-471: A range of benefits which included shortened travel times, improved safety and better facilitation of tourism, labor and mobility, as well as reducing highway congestion, accidents and greenhouse emissions as some automobile travellers switch from car use to rail. A 2020 study by Paulson Institute has estimated the net benefit of the high-speed rail system to be approximately $ 378 billion, with an annual return on investment of 6.5%. High-speed rail in China

1530-476: A similar delivery structure with three shipped directly from Savigliano along with six kits assembled by CNR's CRRC Changchun Railway Vehicles , and the rest locally made with transferred technology and some imported parts. Trains with Alstom technology carry the CRH5 designation. The following year, Siemens reshuffled its bidding team, lowered prices, joined the bidding for 350 km/h (217 mph) trains and won

1620-460: A slowing economy, central planners approved a slew of new lines including Shangqiu - Hefei - Hangzhou , Zhengzhou - Wanzhou , Lianyungang - Zhenjiang , Linyi - Qufu , Harbin - Mudanjiang , Yinchuan - Xi'an , Datong - Zhangjiakou , and intercity lines in Zhejiang and Jiangxi. The government actively promoted the export of high-speed rail technology to countries including Mexico, Thailand,

1710-581: A snapshot of profitability , adjusted for the size of the investment assets tied up in the enterprise. ROI is often compared to expected (or required) rates of return on money invested. ROI is not time-adjusted (unlike e.g. net present value ): most textbooks describe it with a "Year 0" investment and two to three years' income. Marketing decisions have an obvious potential connection to the numerator of ROI (profits), but these same decisions often influence assets’ usage and capital requirements (for example, receivables and inventories). Marketers should understand

1800-412: A top speed of 200 km/h (124 mph) on the upgraded Beijing–Shanghai Railway . To increase transport capacity, the MOR ordered 70 16-car trainsets from CSR Sifang and BST, including 10 sets of CRH1B and 20 sets of CRH2B seating trains, 20 sets of CRH1E and 20 sets of CRH2E sleeper trains. Construction of the high-speed railway between Beijing and Shanghai , the world's first high-speed rail with

1890-545: A top speed of 431 km/h (268 mph). The economics of high-speed rail in China has been a topic of much discussion. A 2019 study produced by TransFORM, a knowledge platform developed by the World Bank and China’s Ministry of Transport , estimated the annual rate of economic return of China's high-speed rail network in 2015, to be at 8 percent, which is well above the opportunity cost of capital in China for major long term infrastructure investments. The study also noted

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1980-425: A variable escalating rate charged annually through the duration of the loan. Marketing not only influences net profits but also can affect investment levels too. New plants and equipment, inventories, and accounts receivable are three of the main categories of investments that can be affected by marketing decisions. RoA, RoNA, RoC, and RoIC, in particular, are similar measures with variations on how ' investment '

2070-549: A web campaign to oppose the awarding of HSR contracts to Japanese companies. The protests gathered over a million signatures and politicized the issue. The MOR delayed the decision, broadened the bidding and adopted a diversified approach to adopting foreign high-speed train technology. In June 2004, the MOR solicited bids to make 200 high-speed train sets that can run 200 km/h (124 mph). Alstom of France, Siemens of Germany , Bombardier Transportation based in Germany and

2160-481: A year you received US$ 4 of dividends and sold the share 1 year after you bought it for US$ 200 paying a US$ 5 selling commission. Your ROI is the following: ROI = (200 + 4 - 100 - 5 - 5) / (100 + 5 + 5) x 100% = 85.45% As the duration of this investment is 1 year, this ROI is annual. For a single-period review, divide the return (net profit) by the resources that were committed (investment): or or or Complications in calculating ROI can arise when real property

2250-414: Is a principles-based method for measuring extra-financial value (i.e., environmental and social value not currently reflected in conventional financial accounts) relative to resources invested. It can be used by any entity to evaluate the impact on stakeholders , identify ways to improve performance and enhance the performance of investments. As a decision tool, it is simple to understand. The simplicity of

2340-498: Is also used as an indicator to compare different investments within a portfolio. The investment with the largest ROI is usually prioritized, even though the spread of ROI over the time period of an investment should also be taken into account. Recently, the concept has also been applied to scientific funding agencies’ (e.g., National Science Foundation ) investments in research of open source hardware and subsequent returns for direct digital replication. ROI and related metrics provide

2430-672: Is defined. ROI is a popular metric for heads of marketing because of marketing budget allocation. Return on Investment helps identify marketing mix activities that should continue to be funded and which should be cut. To address the lack of integration of the short and long term importance, value and risks associated with natural and social capital into the traditional ROI calculation, companies are valuing their environmental, social and governance (ESG) performance through an integrated management approach to reporting that expands ROI to Return on Integration. This allows companies to value their investments not just for their financial return but also

2520-468: Is officially defined as "newly-built passenger-dedicated rail lines designed for electrical multiple unit (EMU) train sets traveling at not less than 250 km/h (155 mph) (including lines with reserved capacity for upgrade to the 250 km/h (155 mph) standard) on which initial service operate at not less than 200 km/h (124 mph)." EMU train sets have no more than 16  railcars with axle load not greater than 17  tonnes and

2610-561: Is refinanced, or a second mortgage is taken out. Interest on a second, or refinanced, loan may increase, and loan fees may be charged, both of which can reduce the ROI, when the new numbers are used in the ROI equation. There may also be an increase in maintenance costs and property taxes, and an increase in utility rates if the owner of a residential rental or commercial property pays these expenses. Complex calculations may also be required for property bought with an adjustable rate mortgage (ARM) with

2700-462: Is the Guangzhou–Shenzhen railway , which in December 1994 became the first line in China to offer sub-high-speed service of 160 km/h (99 mph) using domestically produced DF-class diesel locomotives. The line was electrified in 1998, and Swedish-made X 2000 trains increased service speed to 200 km/h (124 mph). After the completion of a third track in 2000 and a fourth in 2007,

2790-454: The 700 series . The Japanese government touted the 40-year track record of the Shinkansen and offered favorable financing. A Japanese report envisioned a winner-take all scenario in which the winning technology provider would supply China's trains for over 8,000 km (5,000 mi) of high-speed rail. However, Chinese citizens angry with Japan's denial of World War II war crimes organized

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2880-767: The Beijing–Shanghai high-speed railway could reach a top operational speed of 380 km/h (240 mph) but were limited to 300 km/h (186 mph). Under political and public pressure, the National Audit Office (NAO) carried out an extensive investigation into the building quality of all high-speed rail lines. As of March 2011, no major quality defects had been found in the system. Foreign manufacturers involved in Shanghai-Beijing high-speed link reported that their contracts call for maximum operational speed of 300 km/h (186 mph). From July 20, 2011,

2970-524: The CRH2 C and CRH3 C train sets. This ambitious national grid project was planned to be built by 2020, but the government's stimulus has expedited time-tables considerably for many of the lines. The Wuhan–Guangzhou high-speed railway (Wuguang PDL) , which opened on December 26, 2009, was the country's first cross-regional high-speed rail line. With a total length of 968 km (601 mi) and capacity to accommodate trains traveling at 350 km/h (217 mph),

3060-667: The China Railway Corporation under the brand China Railway High-speed (CRH). High-speed rail developed rapidly in China since the mid-2000s. CRH was introduced in April 2007 and the Beijing-Tianjin intercity rail , which opened in August 2008, was the first passenger dedicated HSR line. Currently, the HSR extends to all provincial-level administrative divisions and Hong Kong SAR with

3150-596: The Ningbo–Taizhou–Wenzhou railway in Lucheng District of Wenzhou , Zhejiang Province. The accident occurred when one train traveling near Wenzhou was struck by lightning, lost power and stalled. Signals malfunctioned, causing another train to rear-end the stalled train. Several carriages derailed . State-run Chinese media confirmed 40 deaths, and at least 192 people hospitalised, including 12 who were severely injured. The Wenzhou train accident and

3240-491: The People's Republic of China (PRC) is the world's longest and most extensively used – with a total length of 46,000 kilometres (29,000 mi) in the middle of 2024. The HSR network encompasses newly built rail lines with a design speed of 200–380 km/h (120–240 mph). China's HSR accounts for two-thirds of the world's total high-speed railway networks. Almost all HSR trains, track and service are owned and operated by

3330-728: The South Manchuria Railway from Dalian to Xinjing ( Changchun ), had a top commercial speed of 110 km/h (68 mph) and a test speed of 130 km/h (81 mph). It was faster than the fastest trains in Japan at the time. After the founding of the People's Republic of China in 1949, this train model was renamed the SL-7 and was used by the Chinese Minister of Railways. State planning for China's current high-speed railway network began in

3420-503: The environmental, social, and governance performance of an organization. Without a metric for measuring the short- and long-term environmental, social and governance performance of a firm, decision makers are planning for the future without considering the extent of the impacts associated with their decisions. One or more separate measures, aligned with relevant compliance functions, are frequently provided for this purpose. Return on investment can be calculated in different ways depending on

3510-545: The global economic recession , the government accelerated the pace of HSR expansion to stimulate economic growth. Total investments in new rail lines including HSR reached $ 49.4 billion in 2008 and $ 88 billion in 2009. In all, the state planned to spend $ 300 billion to build a 25,000 km (16,000 mi) HSR network by 2020. As of 2007, the Qinhuangdao-Shenyang high-speed railway , which carried trains at top speed of 250 km/h (155 mph) along

3600-506: The 60 train sets, three were directly delivered from Nagoya , Japan, six were kits assembled at CSR Sifang Locomotive & Rolling Stock , and the remaining 51 were made in China using transferred technology with domestic and imported parts. They are known as CRH2 A. Alstom also won an order for 60 train sets based on the New Pendolino developed by Alstom- Ferroviaria in Italy. The order had

3690-483: The Beijing Shanghai HSR would begin in the 9th Five Year Plan (1996–2000), but construction was not scheduled until the first decade of the 21st century. In 1993, commercial train service in China averaged only 48 km/h (30 mph) and was steadily losing market share to airline and highway travel on the country's expanding network of expressways . The MOR focused modernization efforts on increasing

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3780-462: The Beijing-Tianjin high-speed line and a few other inter-city lines remained at 350 km/h (217 mph). In May 2011, China's Environmental Protection Ministry ordered the halting of construction and operation of two high-speed lines that failed to pass environmental impact tests. In June, the MOR maintained that high-speed rail construction was not slowing down. The CRH380A trainsets on

3870-752: The Beijing-Wuhan section of the Beijing-Guangzhou line . By the end of 2012, the total length of high-speed rail tracks had reached 9,300 km (5,800 mi), and ridership rebounded and exceeded levels prior to the Wenzhou crash. By 2014, China's 1,580 high-speed trains were transporting 1.33 million passengers daily, about 25.7% of the overall passenger traffic. The Beijing–Tianjin, Shanghai–Nanjing, Beijing–Shanghai and Shanghai–Hangzhou lines reported breaking even financially The Shanghai-Nanjing line even reported to be operationally profitable, operating with

3960-456: The Chinese government renewed investments in high-speed rail to rejuvenate the slowing economy. Premier Wen Jiabao visited train manufacturers and gave a vote of confidence in the industry. Over the course of the year, the MOR's budget rose from $ 64.3 billion to $ 96.5 billion. Five new lines totaling 2,563 km (1,593 mi) in length entered operation between June 30 and December 31, including

4050-447: The Chinese government through CRRC to make the more reliable Fuxing Hao and Hexie Hao trains. The CRH380 series(or family) of trains was initially built with direct cooperation (or help) from foreign trainmakers, but newer trainsets are based on transferred technology, just like the Hexie and Fuxing Hao. In 2003, the MOR was believed to favor Japan's Shinkansen technology, especially

4140-457: The Chinese press and the populace concerning the HSR and on the railway company. Following the deadly crash, the Chinese government suspended new railway project approvals and launched safety checks on existing equipment. A commission was formed to investigate the accident with a directive to report its findings in September 2011. On August 10, 2011, the Chinese government announced that it

4230-512: The Chinese press. In April 2011, the new Minister of Railways Sheng Guangzu said that due to corruption, safety may have been compromised on some construction projects and completion dates may have to be pushed back. Sheng announced that all trains in the high-speed rail network would operate at a maximum speed of 300 km/h (186 mph) beginning on July 1, 2011. This was in response to concerns over safety, low ridership due to high ticket prices, and high energy usage. On June 13, 2011,

4320-644: The DJJ2, DJF2 and other domestically produced high-speed trains were insufficiently reliable for commercial operation. The State Council turned to advanced technology abroad but made clear in directives that China's HSR expansion could not only benefit foreign economies and should also be used to develop its own high-speed train building capacity through technology transfers. The State Council, MOR and state-owned train builders used China's large market and competition among foreign train-makers to force technology transfers of foreign high speed rail technology . This would later allow

4410-626: The Liaoxi Corridor in the Northeast , was the only passenger-dedicated HSR line (PDL) in China, but that would soon change as the country embarked on a high-speed railway construction boom. Higher-speed express train service allowed more trains to share the tracks and improved rail transport capacity. But high-speed trains often have to share tracks with slower, heavy freight trains – in some cases with as little as 5 minutes headway. To attain higher speeds and transport capacity, planners began to propose

4500-414: The MOR as a whole made a profit of ¥4.29 billion and carried a total debt burden of ¥2.09 trillion, equal to about 5% of China's GDP. Earnings from the more profitable freight lines helped to off-set losses by high-speed rail lines. As of years ending 2008, 2009 and 2010, the MOR's debt-to-asset ratio was respectively, 46.81%, 53.06% and 57.44%, and reached 58.58% by mid-year 2011. As of October 12, 2011,

4590-448: The MOR clarified in a press conference that the speed reduction was not due to safety concerns but to offer more affordable tickets for trains at 250 km/h (155 mph) and increase ridership. Higher-speed train travel uses greater energy and imposes more wear on expensive machinery. Railway officials lowered the top speed of trains on most lines that were running at 350 km/h (217 mph) to 300 km/h (186 mph). Trains on

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4680-567: The MOR had issued ¥160 billion of debt for the year. But in the late summer, state banks began to cut back on lending to rail construction projects, which reduced funding for existing railway projects. An investigation of 23 railway construction companies in August 2011 revealed that 70% of existing projects had been slowed or halted mainly due to shortage of funding. Affected lines included Xiamen-Shenzhen , Nanning-Guangzhou, Guiyang-Guangzhou, Shijiazhuang-Wuhan, Tianjin-Baoding and Shanghai-Kunming high-speed rail lines. By October, work had halted on

4770-510: The Shanghai Academy of Environmental Sciences saying the line was safe. These concerns have prevented the construction of the proposed extension of the maglev to Hangzhou . Even the more modest plan to extend the maglev to Shanghai's other airport, Hongqiao , has stalled. Instead, a conventional subway line was built to connect the two airports, and a conventional high-speed rail line was built between Shanghai and Hangzhou . While maglev

4860-500: The Sixth Railway Speed Up Campaign, 52 CRH trainsets ( CRH1 , CRH2 and CRH5 ) entered into operation. The new trains reduced travel time between Beijing and Shanghai by two hours to just under 10 hours. Some 295 stations have been built or renovated to allow high-speed trains. The development of the HSR network in China was initially delayed by a debate over the type of track technology to be used. In June 1998, at

4950-535: The State Council in its Mid-to-Long Term Railway Development Plan , adopted conventional track HSR technology over maglev for the Beijing–Shanghai High Speed Railway and three other north–south high-speed rail lines. This decision ended the debate and cleared the way for rapid construction of standard gauge, passenger dedicated HSR lines in China. Despite setting speed records on test tracks,

5040-490: The United Kingdom, India, Russia and Turkey. To better compete with foreign trainmakers, the central authorities arranged for the merger of the country's two main high-speed train-makers, CSR and CNR , into CRRC . Return on investment Return on investment ( ROI ) or return on costs ( ROC ) is the ratio between net income (over a period) and investment (costs resulting from an investment of some resources at

5130-646: The Wuguang PDL set a world record for the fastest commercial train service with average trip speed of 312.5 km/h (194.2 mph). Train travel between central and southern China ’s largest cities, Wuhan and Guangzhou, was reduced to just over three hours. On October 26, 2010, China opened its 15th high-speed rail, the Shanghai–Hangzhou line , and unveiled the CRH380A trainset manufactured by CSR Sifang started regular service. The Beijing–Shanghai high-speed railway ,

5220-476: The bold move of forming a systemic development platform for high-speed locomotives and further upgrading its design and manufacturing technology. Later, we began to independently develop high-speed CRH trains with a maximum velocity of 300–350 kilometers per hour, which eventually rolled off the production line in December 2007." Since then, CSR has ended its cooperation with Kawasaki. Kawasaki challenged China's high-speed rail project for patent theft, but backed off

5310-472: The components of the CRH trains manufactured by Chinese companies were from local suppliers, with only a few parts imported. For foreign train-makers, technology transfer was an important part of gaining market access in China. Bombardier, the first foreign train-maker to form a joint venture in China, has been sharing technology for the manufacture of railway passenger cars and rolling stock since 1998. Zhang Jianwei, President of Bombardier China, stated that in

5400-499: The construction of 10,000 km (6,200 mi) of track. New projects were put on hold and completion dates for existing projects, including the Tianjin-Baoding, Harbin-Jiamusi, Zhengzhou-Xuzhou and Hainan Ring (West), were pushed back. As of October 2011, the MOR was reportedly concentrating remaining resources on fewer high-speed rail lines and shifting emphasis to more economically viable coal transporting heavy rail. To ease

5490-559: The corridors that connected large cities in the same region. On April 19, 2008, Hefei–Nanjing PDL in the East opened with a top-speed of 250 km/h (155 mph). On August 1, 2008, the Beijing–Tianjin intercity railway opened in time for the 2008 Summer Olympics . This line between northern China's two largest cities, was the first in the country to accommodate commercial trains with top speed of 350 km/h (217 mph) and featured

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5580-487: The credit shortage facing rail construction, the Ministry of Finance announced tax cuts to interest earned on rail construction financing bonds and the State Council ordered state banks to renew lending to rail projects. In late October and November 2011, the MOR raised RMB 250 billion in fresh financing and construction resumed on several lines including the Tianjin-Baoding, Xiamen-Shenzhen and Shanghai-Kunming. By early 2012,

5670-524: The early 1990s under the leadership of Deng Xiaoping . He set up what became known as the "high-speed rail dream" after his visit to Japan in 1978, where he was deeply impressed by the Shinkansen , the world's first high speed rail system. In December 1990, the Ministry of Railways (MOR) submitted to the National People's Congress a proposal to build a high-speed railway between Beijing and Shanghai. At

5760-464: The effort. Between June and September 2005, the MOR launched bidding for high-speed trains with a top speed of 350 km/h (217 mph), as most of the main high-speed rail lines were designed for top speeds of 350 km/h (217 mph) or higher. Along with CRH3C, produced by Siemens and CNR Tangshan, CSR Sifang bid 60 sets of CRH2C. In 2007, travel time from Beijing to Shanghai was about 10 hours at

5850-528: The end of 2011, China would have 13,073 kilometres (8,123 mi) of railways capable of carrying trains at speeds of at least 200 km/h (124 mph). In February 2011, Railway Minister Liu Zhijun , a key proponent of HSR expansion in China, was removed from office on charges of corruption. The Economist estimates Liu accepted ¥ 1 billion of bribes ($ 152 million) in connection with railway construction projects. Investigators found evidence that another ¥ 187 million ($ 28.5 million)

5940-474: The exception of Macau SAR . Notable HSR lines in China include the Beijing–Kunming high-speed railway which at 2,760 km (1,710 mi) is the world's longest HSR line in operation, and the Beijing–Shanghai high-speed railway with the world's fastest operating conventional train services. The Shanghai Maglev is the world's first high-speed commercial magnetic levitation (maglev) line that reach

6030-495: The fastest commercial train in the world with peak speeds of 431 km/h (268 mph) and makes the 30.5 km (19.0 mi) trip in less than 7.5 minutes. Despite unmatched advantage in speed, the maglev has not gained widespread use in China's high-speed rail network due to high cost, German refusal to share technology and concerns about safety. The price tag of the Shanghai Maglev was believed to be $ 1.3 billion and

6120-426: The formula allows users to freely choose variables, e.g., length of the calculation time, whether overhead cost is included, or which factors are used to calculate income or cost components. The use of ROI as an indicator for prioritizing investment projects alone can be misleading since usually the ROI figure is not accompanied by an explanation of its make-up. ROI should be accompanied by the underlying data that forms

6210-415: The frequency of train service from Jinan to Beijing and Tianjin was reduced due to low occupancy, which renewed concerns about demand and profitability for high-speed services. Service failures in the first month of operation drove passengers back to pre-existing slower rail service and air travel; airline ticket prices rebounded due to reduced competition. On July 23, 2011, two high-speed trains collided on

6300-408: The goal and application. The most comprehensive formula is: Return on investment (%) = (current value of investment if not exited yet or sold price of investment if exited + income from investment − initial investment and other expenses) / initial investment and other expenses x 100%. Example with a share of stock: You bought 1 share of stock for US$ 100 and paid a buying commission of US$ 5. Then over

6390-484: The inputs, this is often in the format of a business case. For long-term investments, the need for a Net Present Value adjustment is great and without it the ROI is incorrect. Similar to discounted cash flow , a Discounted ROI should be used instead. One limitation associated with the traditional ROI calculation is that it does not fully "capture the short-term or long-term importance, value, or risks associated with natural and social capital", because it does not account for

6480-479: The lack of accountability by railway officials caused a public uproar and heightened concerns about the safety and management of China's high-speed rail system. Quality and safety concerns also affected plans to export cheaper high-speed train technology to other countries. The train collision exposed poor management by the railway company. This fatal accident, which happened in the midst of corruption investigations into railway officials, led to greater scrutiny in

6570-464: The line became the first in China to run high-speed passenger and freight service on separate tracks. The completion of the sixth round of the "Speed-Up" Campaign in April 2007 brought HSR service to more existing lines: 423 km (263 mi) capable of 250 km/h (155 mph) train service and 3,002 km (1,865 mi) capable of 200 km/h (124 mph). In all, travel speed increased on 22,000 km (14,000 mi), or one-fifth, of

6660-408: The long term environmental and social return of their investments. By highlighting environmental, social and governance performance in reporting, decision makers have the opportunity to identify new areas for value creation that are not revealed through traditional financial reporting. The social cost of carbon is one value that can be incorporated into Return on Integration calculations to encompass

6750-455: The maximum speed of trains to over 500 km/h (311 mph). After committing to conventional-track high-speed rail in 2006, the state embarked on an ambitious campaign to build passenger-dedicated high-speed rail lines, which accounted for a large part of the government's growing budget for rail construction. Total investment in new rail lines grew from $ 14 billion in 2004 to $ 22.7 and $ 26.2 billion in 2006 and 2007. In response to

6840-427: The national grid, especially along the southeast coastal corridor, were built to link cities that had no previous rail connections. Those sections will carry a mix of passenger and freight. High-speed trains on PDLs can generally reach 300–350 km/h (190–220 mph). On mixed-use HSR lines, passenger train service can attain peak speeds of 200–250 km/h (120–160 mph). The earliest PDLs built were sections of

6930-421: The national rail network, and the average speed of passenger trains improved to 70 km/h (43 mph). The introduction of more non-stop service between large cities also helped to reduce travel time. The non-stop express train from Beijing to Fuzhou shortened travel time from 33.5 to less than 20 hours. In addition to track and scheduling improvements, the MOR also deployed faster CRH series trains. During

7020-404: The nickname "Northeast's No. 1 Station" ( 东北第一站 ). In 2011, a huge expansion project known as the "North Station Transport Hub Reconstruction Project" ( 北站交通枢纽改造工程 ) was initiated in response to the growing demand for floor area posed by the increasing passenger traffic after introduction of the high-speed rail service. The station now has an additional 3-storey "Sub-Station Building" ( 子站房 ) and

7110-565: The number of passengers carried by high-speed EMU train sets, and such figures typically include passengers on EMU trains operating on non-high speed track or at service speeds below 200 km/h (124 mph). The earliest example of a fast commercial train service in China was the Asia Express , a luxury passenger train that operated in Japanese-controlled Manchuria from 1934 to 1943. The steam-powered train , which ran on

7200-502: The opening of the Taiyuan–Xi'an , Hangzhou–Changsha , Lanzhou-Ürümqi , Guiyang-Guangzhou , Nanning -Guangzhou trunk lines and intercity lines around Wuhan , Chengdu , Qingdao and Zhengzhou. High-speed passenger rail service expanded to 28 provinces and regions . The number of high-speed train sets in operation grew from 1,277 pairs in June to 1,556.5 pairs in December. In response to

7290-472: The position of their company and the returns expected. For a marketing ROI percentage to be credible, the effects of the marketing program must be isolated from other influences when reported to executives. In a survey of nearly 200 senior marketing managers, 77 percent responded that they found the "return on investment" metric very useful. Return on investment may be extended to terms other than financial gain. For example, social return on investment (SROI)

7380-400: The remaining 350 km/h (217 mph) trains between Shanghai and Hangzhou was reduced to 300 km/h (186 mph) as of August 28, 2011. To stimulate ridership, on August 16, 2011, ticket prices on high-speed trains were reduced by five percent. From July to September, high-speed rail ridership in China fell by nearly 151 million trips to 30 million trips. In the first half of 2011,

7470-403: The same September with a new record of 321 km/h (199 mph). The line supports commercial train service at speeds of 200–250 km/h (120–160 mph), and has become a segment of the rail corridor between Beijing and Northeast China. The Qinhuangdao-Shenyang Line showed the greater compatibility of HSR on conventional track with the rest of China's standard gauge rail network. In 2004,

7560-801: The second major cross-regional line, opened in June 2011 and was the first line designed with a top speed of 380 km/h (236 mph) in commercial service. By January 2011, China had the world's longest high-speed rail network with about 8,358 km (5,193 mi) of routes capable for at least 200 km/h (124 mph) running in service including 2,197 km (1,365 mi) of rail lines with top speeds of 350 km/h (217 mph). The MOR reportedly committed investment of ¥709.1 billion (US$ 107.9 billion) in railway construction in 2010 and would invest ¥700 billion (US$ 106 billion) in 2011 on 70 railway projects, including 15 high-speed rail projects. Some 4,715 kilometres (2,930 mi) of new high-speed railways would be opened, and by

7650-490: The service speed and capacity on existing lines through double-tracking , electrification , improving grade (through tunnels and bridges), reducing turn curvature and installing continuous welded rail . Through five rounds of "Speed-Up" campaigns in April 1997, October 1998, October 2000, November 2001, and April 2004, passenger service on 7,700 km (4,800 mi) of existing tracks was upgraded to reach sub-high speeds of 160 km/h (100 mph). A notable example

7740-944: The time, the Beijing–Shanghai Railway was already at capacity, and the proposal was jointly studied by the Science & Technology Commission , State Planning Commission , State Economic & Trade Commission, and the MOR. In December 1994, the State Council commissioned a feasibility study for the line. Policy planners debated the necessity and economic viability of high-speed rail service. Supporters argued that high-speed rail would boost future economic growth. Opponents noted that high-speed rail in other countries were expensive and mostly unprofitable. Overcrowding on existing rail lines, they said, could be solved by expanding capacity through higher speed and frequency of service. In 1995, Premier Li Peng announced that preparatory work on

7830-406: Was drawing attention to Shanghai, conventional track HSR technology was being tested on the newly completed Qinhuangdao-Shenyang Passenger Railway . This 405 km (252 mi) standard gauge, dual-track, electrified line was built between 1999 and 2003. In June 2002, a domestically made DJF2 train set a record of 292.8 km/h (181.9 mph) on the track. The China Star (DJJ2) train followed

7920-520: Was misappropriated from the $ 33 billion Beijing–Shanghai high-speed railway in 2010. Another top official in the Railways Ministry, Zhang Shuguang , was also sacked for corruption. Zhang was estimated to have misappropriated to his personal overseas accounts the equivalent of $ 2.8 billion. After the political shake-up, concerns about HSR safety, high ticket prices, financial sustainability and environmental impact received greater scrutiny in

8010-554: Was partially financed by the German government. The refusal of the Transrapid Consortium to share technology and source production in China made large-scale maglev production much more costly than high-speed train technology for conventional lines. Finally, residents living along the proposed maglev route have raised health concerns about noise and electromagnetic radiation emitted by the trains, despite an environmental assessment by

8100-422: Was suspending approvals of any new high-speed rail lines pending the outcome of the investigation. The Minister of Railways announced further cuts in the speed of Chinese high-speed trains, with the speed of the second-tier 'D' trains reduced from 250 km/h (155 mph) to 200 km/h (124 mph), and 200 km/h (124 mph) to 160 km/h (99 mph) on upgraded pre-existing lines. The speed of

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