Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Financing new metros—The Beijing metro financing sustainability study
Abstract China invested intensively in metro system to accommodate its urbanization since 2000. This research seeks to understand how local governments finance these investments and whether the current financing strategies are likely sustainable for many years to come. This study discusses the nature of metro financing mechanism and uses Beijing׳s metro system as a case to examine the financing sustainability. By calculation, Beijing government faces immediate financial challenges in 2012 and 2013 as the metro expenses are around 10% of government׳s revenue. The financing sustainability is largely influenced by the local land leasing revenue. If property values collapse, financial sustainability could be a serious problem in the future.
Highlights The paper summarizes the nature of urban infrastructure financing in China. Beijing metro financing case is introduced. Beijing metro financing sustainability is tested in different scenarios. Increasing fares or engaging in PPPs will not solve the underlying financial problems.
Financing new metros—The Beijing metro financing sustainability study
Abstract China invested intensively in metro system to accommodate its urbanization since 2000. This research seeks to understand how local governments finance these investments and whether the current financing strategies are likely sustainable for many years to come. This study discusses the nature of metro financing mechanism and uses Beijing׳s metro system as a case to examine the financing sustainability. By calculation, Beijing government faces immediate financial challenges in 2012 and 2013 as the metro expenses are around 10% of government׳s revenue. The financing sustainability is largely influenced by the local land leasing revenue. If property values collapse, financial sustainability could be a serious problem in the future.
Highlights The paper summarizes the nature of urban infrastructure financing in China. Beijing metro financing case is introduced. Beijing metro financing sustainability is tested in different scenarios. Increasing fares or engaging in PPPs will not solve the underlying financial problems.
Financing new metros—The Beijing metro financing sustainability study
Chang, Zheng (Autor:in)
Transport Policy ; 32 ; 148-155
01.01.2014
8 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
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