Research on the Reform and Fiscal Subsidies of China's High-Speed Railway System

At present, a lot of countries are very concerned about high-speed railway. Because the development of high-speed railways can produce a huge of economic and social benefits, such as saving passenger's time, protecting environment, enhancing the country's comprehensive national strength and so on. We show that high-speed railway has tremendous positive externalities,which is favorable for the development of national economy. Now the development of China's high-speed rail is relatively rapid, but there are some problems which we should pay much attention, such as the poor profitability and the big debt risk of high-speed rail and so on. How these issues should be resolved. On the other hand, we can reform China's high-speed rail system on the basis of learning from foreign experience in railway reform. For example,we should maintain the independence of rail regulatory agencies and the railway companies, and we should also improve the railway rules and regulations. The main views we argue in the paper include the following three points. Firstly, On the other hand,the government can increase Fiscal subsidies for high-speed rail. We should distribute the amount of central government and local government subsidies on high-speed rail properly. The government should also create a favorable external environment for the development of high-speed rail. And the railway departments should strengthen the internal management. These measures can contribute to the favorable development of the railway. This article intends to study these issues. This paper will research these issues.