Attracting Capital for Railway Development in China
China Railways Corporation (CRC) is considering new ways to attract capital to support the strategic development of the railway sector. Currently, government is the predominant equity financier, with debt being supplied by domestic bank credits and...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2015/12/25714663/attracting-capital-railway-development-china http://hdl.handle.net/10986/23800 |
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okr-10986-23800 |
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| recordtype |
oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
TRANSIT AUTHORITIES TRANSPORT MARKET LAND USE PATTERN TRANSPORT SECTOR RAIL VEHICLES RAIL FREIGHT OPERATOR RAIL NETWORK PASSENGERS CROSSINGS DIESEL LOCOMOTIVES RAIL PROJECT TRAFFIC FLOW TREND MILEAGE RAIL SERVICE RAIL TRANSPORTATION RAIL” MARKET TRAVEL SPEED TOLL TRANSPORT SAFETY LONG- DISTANCE RAILWAY LINES VOLUME OF TRAFFIC FARE REVENUES UNDERGROUND TRANSPORT SERVICES LAND • USE TUNNEL LOCAL TRANSPORT RAIL CONSTRUCTION URBANISM RAIL TRANSPORT FREIGHT TRAFFIC TRAINING RAIL LINK PASSENGER NUMBERS RAIL CORRIDORS RAIL INVESTMENTS REBATES TRANSPORT PLANNING RAIL LINE SURFACE TRANSPORTATION PUBLIC ROADS RAIL COMPANY CONGESTION PROBLEMS ACCESS ROADS NATIONAL RAIL NETWORK DRAINAGE FLOOR AREA RAIL TRAFFIC URBAN RAIL TRANSIT PATRONAGE CAPITAL INVESTMENTS RAILWAY VEHICLES LOCOMOTIVE SUBSIDIES GRANTS INFRASTRUCTURE LAND USE BUSES MIXED USE FLEET MANAGEMENT CONGESTION DRIVING TRANSPORTATION TRAFFIC RISK INSPECTION FUEL EFFICIENCY TRANSIT STATIONS COMMUTER LINES POLICIES TRANSIT STOPS TRANSPARENCY RESETTLEMENT PASSENGER RAIL SERVICE RAIL MARKET PASSENGER SERVICE TRAINS ACCESSIBILITY DIRECT ROUTES FINANCIAL BURDEN MASS TRANSIT FINANCIAL PERFORMANCE PASSENGER VOLUME RAIL SECTOR ROLLING STOCK RAILWAY RAILWAY COMPANIES AFFORDABLE HOUSING ROADS CAR RAIL REVENUE LOCAL ROADS FLEETS PASSENGER RIGHTS RAILROAD ECONOMIES OF SCALE RAILWAY UNDERTAKINGS AGGLOMERATION ECONOMIES PRIVATE RAILWAYS PEDESTRIAN HIGH SPEED RAIL RAIL FUEL TRAILS LIGHT RAIL TRANSIT LANES CITY TRANSIT URBAN STREET TRANSPORT SYSTEM RAILWAY OPERATORS PEDESTRIAN ACCESS HISTORIC BUILDINGS PROFITABLE ROUTES CAPITAL INVESTMENT DIESEL ROAD TRANSPORT TRAVEL TIME ELECTRIC LOCOMOTIVE TRANSPORT POLICIES INFRASTRUCTURES FREIGHT TRANSPORT OPERATIONS REDUCTIONS IN TRAFFIC RAIL INFRASTRUCTURE INFRASTRUCTURE CAPACITY PASSENGER SERVICES AUTOMOBILE PUBLIC UTILITIES FREIGHT SERVICES PROFIT MARGINS TRANSPORT SERVICE FLOOR SPACE RAILWAY INVESTMENT RAIL OPERATIONS INTERCITY PASSENGER AIRPORT CAPITAL INVESTMENT PROGRAM RAIL PLAN INFRASTRUCTURE FUNDING TRANSPORT INFRASTRUCTURE INTERNATIONAL AIRPORT VEHICLES RAIL FREIGHT MARKET RAIL LINES PROPERTY RIGHTS FARES FREIGHT SERVICE RAILWAY INDUSTRY AGGLOMERATION BENEFITS TRAFFIC DEMAND MIXED USE DEVELOPMENT ROADWAY CARRIERS SUBSIDY TRAFFIC RAILWAY STATIONS TAX INCOME TAX ROUTES STREET AMENITIES HIGH RIDERSHIP RAIL INDUSTRY BUS LANES RAIL TRANSIT TOLL REVENUES PROPERTY OWNERS NATIONAL RAILWAY VEHICLE ROAD TRANSIT SERVICES VEHICLE MANUFACTURERS COMMUTERS COSTS RAILWAY SECTOR RIGHTS OF ACCESS TRANSPORT TRANSIT SERVICE RAILWAY SYSTEM LONG-DISTANCE RAILWAY NETWORK ARTERY DEMAND FOR TRANSPORT TRUE TRANSPORT FACILITIES BUS SERVICES SUBURBS RAIL STATIONS ROUTE TRAFFIC ACCIDENTS BICYCLE PARKING FINANCIAL INCENTIVE TAXES PROFIT MARGIN PUBLIC SUBSIDIES DEMAND FOR TRANSPORT SERVICES BUS ENERGY CONSUMPTION MODAL SHARE INITIATIVES RAIL FREIGHT RAIL SERVICES TRAVEL TRANSIT TRANSIT CAPACITY FREIGHT TERMINALS PROPERTY TAXES INFRASTRUCTURE COSTS TRANSPORT RESEARCH CAPITAL PROJECTS RAIL CUSTOMERS RAIL SYSTEM MASS TRANSIT RAILWAY FLOOR AREA RATIO PUBLIC TRANSPORT TRAM PASSENGER TRAFFIC INFRASTRUCTURE PROJECTS STREETS TRANSPORTATION EQUIPMENT BRIDGE TRANSPORT OF HAZARDOUS MATERIALS TRAFFIC VOLUMES FREIGHT RAIL RAILWAYS HIGH-SPEED RAIL RAIL COMPANIES TRANSIT OPERATIONS ACCIDENTS PATRONAGE PUBLIC PARTICIPATION RIDERSHIP RAILROADS PASSENGER RAIL FIXED CHARGE INVESTMENTS FREIGHT MARKET TRAFFIC LEVELS FINANCIAL RISK RAILWAY MARKET RIGHT OF WAY SAFETY ISSUES TRANSPORTATION ECONOMICS LIGHT RAIL NOISE SAFETY PASSENGER TRANSPORT SUBURBAN RAIL RIGHT-OF-WAY |
| spellingShingle |
TRANSIT AUTHORITIES TRANSPORT MARKET LAND USE PATTERN TRANSPORT SECTOR RAIL VEHICLES RAIL FREIGHT OPERATOR RAIL NETWORK PASSENGERS CROSSINGS DIESEL LOCOMOTIVES RAIL PROJECT TRAFFIC FLOW TREND MILEAGE RAIL SERVICE RAIL TRANSPORTATION RAIL” MARKET TRAVEL SPEED TOLL TRANSPORT SAFETY LONG- DISTANCE RAILWAY LINES VOLUME OF TRAFFIC FARE REVENUES UNDERGROUND TRANSPORT SERVICES LAND • USE TUNNEL LOCAL TRANSPORT RAIL CONSTRUCTION URBANISM RAIL TRANSPORT FREIGHT TRAFFIC TRAINING RAIL LINK PASSENGER NUMBERS RAIL CORRIDORS RAIL INVESTMENTS REBATES TRANSPORT PLANNING RAIL LINE SURFACE TRANSPORTATION PUBLIC ROADS RAIL COMPANY CONGESTION PROBLEMS ACCESS ROADS NATIONAL RAIL NETWORK DRAINAGE FLOOR AREA RAIL TRAFFIC URBAN RAIL TRANSIT PATRONAGE CAPITAL INVESTMENTS RAILWAY VEHICLES LOCOMOTIVE SUBSIDIES GRANTS INFRASTRUCTURE LAND USE BUSES MIXED USE FLEET MANAGEMENT CONGESTION DRIVING TRANSPORTATION TRAFFIC RISK INSPECTION FUEL EFFICIENCY TRANSIT STATIONS COMMUTER LINES POLICIES TRANSIT STOPS TRANSPARENCY RESETTLEMENT PASSENGER RAIL SERVICE RAIL MARKET PASSENGER SERVICE TRAINS ACCESSIBILITY DIRECT ROUTES FINANCIAL BURDEN MASS TRANSIT FINANCIAL PERFORMANCE PASSENGER VOLUME RAIL SECTOR ROLLING STOCK RAILWAY RAILWAY COMPANIES AFFORDABLE HOUSING ROADS CAR RAIL REVENUE LOCAL ROADS FLEETS PASSENGER RIGHTS RAILROAD ECONOMIES OF SCALE RAILWAY UNDERTAKINGS AGGLOMERATION ECONOMIES PRIVATE RAILWAYS PEDESTRIAN HIGH SPEED RAIL RAIL FUEL TRAILS LIGHT RAIL TRANSIT LANES CITY TRANSIT URBAN STREET TRANSPORT SYSTEM RAILWAY OPERATORS PEDESTRIAN ACCESS HISTORIC BUILDINGS PROFITABLE ROUTES CAPITAL INVESTMENT DIESEL ROAD TRANSPORT TRAVEL TIME ELECTRIC LOCOMOTIVE TRANSPORT POLICIES INFRASTRUCTURES FREIGHT TRANSPORT OPERATIONS REDUCTIONS IN TRAFFIC RAIL INFRASTRUCTURE INFRASTRUCTURE CAPACITY PASSENGER SERVICES AUTOMOBILE PUBLIC UTILITIES FREIGHT SERVICES PROFIT MARGINS TRANSPORT SERVICE FLOOR SPACE RAILWAY INVESTMENT RAIL OPERATIONS INTERCITY PASSENGER AIRPORT CAPITAL INVESTMENT PROGRAM RAIL PLAN INFRASTRUCTURE FUNDING TRANSPORT INFRASTRUCTURE INTERNATIONAL AIRPORT VEHICLES RAIL FREIGHT MARKET RAIL LINES PROPERTY RIGHTS FARES FREIGHT SERVICE RAILWAY INDUSTRY AGGLOMERATION BENEFITS TRAFFIC DEMAND MIXED USE DEVELOPMENT ROADWAY CARRIERS SUBSIDY TRAFFIC RAILWAY STATIONS TAX INCOME TAX ROUTES STREET AMENITIES HIGH RIDERSHIP RAIL INDUSTRY BUS LANES RAIL TRANSIT TOLL REVENUES PROPERTY OWNERS NATIONAL RAILWAY VEHICLE ROAD TRANSIT SERVICES VEHICLE MANUFACTURERS COMMUTERS COSTS RAILWAY SECTOR RIGHTS OF ACCESS TRANSPORT TRANSIT SERVICE RAILWAY SYSTEM LONG-DISTANCE RAILWAY NETWORK ARTERY DEMAND FOR TRANSPORT TRUE TRANSPORT FACILITIES BUS SERVICES SUBURBS RAIL STATIONS ROUTE TRAFFIC ACCIDENTS BICYCLE PARKING FINANCIAL INCENTIVE TAXES PROFIT MARGIN PUBLIC SUBSIDIES DEMAND FOR TRANSPORT SERVICES BUS ENERGY CONSUMPTION MODAL SHARE INITIATIVES RAIL FREIGHT RAIL SERVICES TRAVEL TRANSIT TRANSIT CAPACITY FREIGHT TERMINALS PROPERTY TAXES INFRASTRUCTURE COSTS TRANSPORT RESEARCH CAPITAL PROJECTS RAIL CUSTOMERS RAIL SYSTEM MASS TRANSIT RAILWAY FLOOR AREA RATIO PUBLIC TRANSPORT TRAM PASSENGER TRAFFIC INFRASTRUCTURE PROJECTS STREETS TRANSPORTATION EQUIPMENT BRIDGE TRANSPORT OF HAZARDOUS MATERIALS TRAFFIC VOLUMES FREIGHT RAIL RAILWAYS HIGH-SPEED RAIL RAIL COMPANIES TRANSIT OPERATIONS ACCIDENTS PATRONAGE PUBLIC PARTICIPATION RIDERSHIP RAILROADS PASSENGER RAIL FIXED CHARGE INVESTMENTS FREIGHT MARKET TRAFFIC LEVELS FINANCIAL RISK RAILWAY MARKET RIGHT OF WAY SAFETY ISSUES TRANSPORTATION ECONOMICS LIGHT RAIL NOISE SAFETY PASSENGER TRANSPORT SUBURBAN RAIL RIGHT-OF-WAY Lawrence, Martha Ollivier, Gerald Attracting Capital for Railway Development in China |
| geographic_facet |
East Asia and Pacific China |
| description |
China Railways Corporation (CRC) is
considering new ways to attract capital to support the
strategic development of the railway sector. Currently,
government is the predominant equity financier, with debt
being supplied by domestic bank credits and limited amounts
borrowed from International Financial Institutions such as
the World Bank and Asian Development Bank. Considering its
high level of accumulated debt and liabilities (RMB 3.7
trillion on an asset base of 5.7 trillion), CRC wishes to
explore equity investment mechanisms, to increase cash flow
from its core and non-core activities, and to use different
financing channels as a way to leverage the value of its
assets and introduce market-based business models to the
sector. CRC is seeking to attract investment from both the
private sector and from public sources such as local
governments and state owned enterprises. It refers to these
sources of capital as ‘social capital.’ This report
examines how companies in China and railways in seven other
countries, China, France, India, Japan, Poland, Russia,
United Kingdom, United States, have attracted capital and
made capital budgeting decisions to support their strategic development. |
| format |
Working Paper |
| author |
Lawrence, Martha Ollivier, Gerald |
| author_facet |
Lawrence, Martha Ollivier, Gerald |
| author_sort |
Lawrence, Martha |
| title |
Attracting Capital for Railway Development in China |
| title_short |
Attracting Capital for Railway Development in China |
| title_full |
Attracting Capital for Railway Development in China |
| title_fullStr |
Attracting Capital for Railway Development in China |
| title_full_unstemmed |
Attracting Capital for Railway Development in China |
| title_sort |
attracting capital for railway development in china |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2015/12/25714663/attracting-capital-railway-development-china http://hdl.handle.net/10986/23800 |
| _version_ |
1764454756048175104 |
| spelling |
okr-10986-238002021-06-14T10:15:50Z Attracting Capital for Railway Development in China Lawrence, Martha Ollivier, Gerald TRANSIT AUTHORITIES TRANSPORT MARKET LAND USE PATTERN TRANSPORT SECTOR RAIL VEHICLES RAIL FREIGHT OPERATOR RAIL NETWORK PASSENGERS CROSSINGS DIESEL LOCOMOTIVES RAIL PROJECT TRAFFIC FLOW TREND MILEAGE RAIL SERVICE RAIL TRANSPORTATION RAIL” MARKET TRAVEL SPEED TOLL TRANSPORT SAFETY LONG- DISTANCE RAILWAY LINES VOLUME OF TRAFFIC FARE REVENUES UNDERGROUND TRANSPORT SERVICES LAND • USE TUNNEL LOCAL TRANSPORT RAIL CONSTRUCTION URBANISM RAIL TRANSPORT FREIGHT TRAFFIC TRAINING RAIL LINK PASSENGER NUMBERS RAIL CORRIDORS RAIL INVESTMENTS REBATES TRANSPORT PLANNING RAIL LINE SURFACE TRANSPORTATION PUBLIC ROADS RAIL COMPANY CONGESTION PROBLEMS ACCESS ROADS NATIONAL RAIL NETWORK DRAINAGE FLOOR AREA RAIL TRAFFIC URBAN RAIL TRANSIT PATRONAGE CAPITAL INVESTMENTS RAILWAY VEHICLES LOCOMOTIVE SUBSIDIES GRANTS INFRASTRUCTURE LAND USE BUSES MIXED USE FLEET MANAGEMENT CONGESTION DRIVING TRANSPORTATION TRAFFIC RISK INSPECTION FUEL EFFICIENCY TRANSIT STATIONS COMMUTER LINES POLICIES TRANSIT STOPS TRANSPARENCY RESETTLEMENT PASSENGER RAIL SERVICE RAIL MARKET PASSENGER SERVICE TRAINS ACCESSIBILITY DIRECT ROUTES FINANCIAL BURDEN MASS TRANSIT FINANCIAL PERFORMANCE PASSENGER VOLUME RAIL SECTOR ROLLING STOCK RAILWAY RAILWAY COMPANIES AFFORDABLE HOUSING ROADS CAR RAIL REVENUE LOCAL ROADS FLEETS PASSENGER RIGHTS RAILROAD ECONOMIES OF SCALE RAILWAY UNDERTAKINGS AGGLOMERATION ECONOMIES PRIVATE RAILWAYS PEDESTRIAN HIGH SPEED RAIL RAIL FUEL TRAILS LIGHT RAIL TRANSIT LANES CITY TRANSIT URBAN STREET TRANSPORT SYSTEM RAILWAY OPERATORS PEDESTRIAN ACCESS HISTORIC BUILDINGS PROFITABLE ROUTES CAPITAL INVESTMENT DIESEL ROAD TRANSPORT TRAVEL TIME ELECTRIC LOCOMOTIVE TRANSPORT POLICIES INFRASTRUCTURES FREIGHT TRANSPORT OPERATIONS REDUCTIONS IN TRAFFIC RAIL INFRASTRUCTURE INFRASTRUCTURE CAPACITY PASSENGER SERVICES AUTOMOBILE PUBLIC UTILITIES FREIGHT SERVICES PROFIT MARGINS TRANSPORT SERVICE FLOOR SPACE RAILWAY INVESTMENT RAIL OPERATIONS INTERCITY PASSENGER AIRPORT CAPITAL INVESTMENT PROGRAM RAIL PLAN INFRASTRUCTURE FUNDING TRANSPORT INFRASTRUCTURE INTERNATIONAL AIRPORT VEHICLES RAIL FREIGHT MARKET RAIL LINES PROPERTY RIGHTS FARES FREIGHT SERVICE RAILWAY INDUSTRY AGGLOMERATION BENEFITS TRAFFIC DEMAND MIXED USE DEVELOPMENT ROADWAY CARRIERS SUBSIDY TRAFFIC RAILWAY STATIONS TAX INCOME TAX ROUTES STREET AMENITIES HIGH RIDERSHIP RAIL INDUSTRY BUS LANES RAIL TRANSIT TOLL REVENUES PROPERTY OWNERS NATIONAL RAILWAY VEHICLE ROAD TRANSIT SERVICES VEHICLE MANUFACTURERS COMMUTERS COSTS RAILWAY SECTOR RIGHTS OF ACCESS TRANSPORT TRANSIT SERVICE RAILWAY SYSTEM LONG-DISTANCE RAILWAY NETWORK ARTERY DEMAND FOR TRANSPORT TRUE TRANSPORT FACILITIES BUS SERVICES SUBURBS RAIL STATIONS ROUTE TRAFFIC ACCIDENTS BICYCLE PARKING FINANCIAL INCENTIVE TAXES PROFIT MARGIN PUBLIC SUBSIDIES DEMAND FOR TRANSPORT SERVICES BUS ENERGY CONSUMPTION MODAL SHARE INITIATIVES RAIL FREIGHT RAIL SERVICES TRAVEL TRANSIT TRANSIT CAPACITY FREIGHT TERMINALS PROPERTY TAXES INFRASTRUCTURE COSTS TRANSPORT RESEARCH CAPITAL PROJECTS RAIL CUSTOMERS RAIL SYSTEM MASS TRANSIT RAILWAY FLOOR AREA RATIO PUBLIC TRANSPORT TRAM PASSENGER TRAFFIC INFRASTRUCTURE PROJECTS STREETS TRANSPORTATION EQUIPMENT BRIDGE TRANSPORT OF HAZARDOUS MATERIALS TRAFFIC VOLUMES FREIGHT RAIL RAILWAYS HIGH-SPEED RAIL RAIL COMPANIES TRANSIT OPERATIONS ACCIDENTS PATRONAGE PUBLIC PARTICIPATION RIDERSHIP RAILROADS PASSENGER RAIL FIXED CHARGE INVESTMENTS FREIGHT MARKET TRAFFIC LEVELS FINANCIAL RISK RAILWAY MARKET RIGHT OF WAY SAFETY ISSUES TRANSPORTATION ECONOMICS LIGHT RAIL NOISE SAFETY PASSENGER TRANSPORT SUBURBAN RAIL RIGHT-OF-WAY China Railways Corporation (CRC) is considering new ways to attract capital to support the strategic development of the railway sector. Currently, government is the predominant equity financier, with debt being supplied by domestic bank credits and limited amounts borrowed from International Financial Institutions such as the World Bank and Asian Development Bank. Considering its high level of accumulated debt and liabilities (RMB 3.7 trillion on an asset base of 5.7 trillion), CRC wishes to explore equity investment mechanisms, to increase cash flow from its core and non-core activities, and to use different financing channels as a way to leverage the value of its assets and introduce market-based business models to the sector. CRC is seeking to attract investment from both the private sector and from public sources such as local governments and state owned enterprises. It refers to these sources of capital as ‘social capital.’ This report examines how companies in China and railways in seven other countries, China, France, India, Japan, Poland, Russia, United Kingdom, United States, have attracted capital and made capital budgeting decisions to support their strategic development. 2016-03-01T23:08:51Z 2016-03-01T23:08:51Z 2015-12-23 Working Paper http://documents.worldbank.org/curated/en/2015/12/25714663/attracting-capital-railway-development-china http://hdl.handle.net/10986/23800 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research East Asia and Pacific China |