Foreign media: China is tightening the approval of intercity railway and urban subway projects to address over-construction, waste, and operational issues.
New regulations require that the expected annual passenger volume in both directions for intercity railway projects must reach 15 million people, or an average of 41,000 people per day. If the passenger volume of existing lines does not reach half of the expected amount within five years, or achieve a cash flow break-even within ten years, the region will not be allowed to start new projects.
The move aims to reduce debt risks and promote the economy's transition to a consumption-driven model.
Original article: toutiao.com/article/1855485432428931/
Statement: The article represents the views of the author.