Shanghai, China: The Beijing-Shanghai bullet train has made a profit of close to US$1 billion for 2015, raking rare financial gains when compared to China’s other high-speed trains who are mostly running on losses. The China Railway High-speed line (CRH) reported net profits of 6.58 billion yuan (US$982 million). It covers more than 1,300km within five hours.
In 2015, it transported more than 130 million passengers, according to an official bond issuance document of one of the line’s major stakeholders. The document also revealed that the CRH line has been narrowing its deficit since it opened in 2011. 2015 was the first time it saw profits.
Beijing-Shanghai High-Speed Rail Corp’s director of the board Cai Qinghua said the fast growth of transport contributed to the quick reversal of the deficit.
APMEN Sept 2016, News
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