Study on Private Capital in Supply of High-Speed Railway Projects
Importing the non-public capital participate in high speed railway supply is effective to expand the development fund of high speed railway, and important to promote the railway supply, to enhance the development of endogenous power and to increase effici
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Study on Private Capital in Supply of High-Speed Railway Projects Gui-feng Qian
Abstract Importing the non-public capital participate in high speed railway supply is effective to expand the development fund of high speed railway, and important to promote the railway supply, to enhance the development of endogenous power and to increase efficiency. For the non-public capital participating in high speed railway, the necessity and possibility are analyzed in this paper. It is discussed the realization forms and the structure pattern about that, and brought forward that professional operation of special permission and DBFOM (DBFO) are new ideas. It is also stated that the non-public capital is important to intensify the reform and sustainable development in high speed railway. Keywords Non-public capital • High speed railway • Project • Supply
Introduction The economic system has undertaken great changes since the adoption of reform and opening policies in our country. As the non-public sector of the economy rapidly develops, it also has contributed a great deal to the economic development and improvement of living standards. The non-public sectors of the economy played an important role in energy, mining, telecommunications, roads and civil aviation industries. On the basis of the essence of state council relative documents, in July 2005, “the implementation proposals on how to encourage and guide the non-public economy to participate in the construction and operation of railways” is put forward by the Ministry of Railways for railway construction. That was the beginning of non-public capital’s opening up to railway construction, passenger transportation, equipment and manufacturing of transportation and pluralistic
G.-f. Qian (*) Business School of Hehai University, Nanjing, China 210098 e-mail: [email protected] R. Dou (ed.), Proceedings of 2012 3rd International Asia Conference on Industrial Engineering and Management Innovation(IEMI2012), DOI 10.1007/978-3-642-33012-4_46, # Springer-Verlag Berlin Heidelberg 2013
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operation. “The notice of continuing to open railway construction market” is proposed by the Ministry of Railways to expand the range of opening up in design, construction and supervision of the railway construction market in 2006. And the Ministry worked out “the investment and financing system reform plan” during National Eleventh Five-Year Plan to give scope to the basic role of the market in resource allocation, to build multi-structure of investment and the property right and the diversification of fund resources and financing pattern. In spite of the Ministry of Railways has a new set of laws to encourage external capital on railway construction in the past 6 years; however, external capitals were not positive to railway industry (Yang Ying 2008; Liu Xia 2007). During National Eleventh Five-Year Plan, the implementation of National Middle-long Term Construction of Railway Plans, China’s high-speed railway has developed rapidly. Part of the high-speed railway had been set u
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