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| Analysis and Research on Financing Model of Intercity Railway |
| KANG Xue-dong |
| Tianjin University，Tianjin 300142，China |
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Abstract Research purposes:As the capital-intensive projects，the intercity railway project require huge amounts of investment in the construction period. How to broaden the financing way for the intercity railway，how to revitalize the huge stock of assets and how to realize preserving and increasing the value of the assets are crucial to the rapid and sustainable development of the intercity railway. So exploring the financing model for the intercity railway has great Significance.
Research conclusions:In combination with the characteristics of intercity railway，in this paper it is proposed that the financing model for intercity railway should be led by the government，along with using the market mechanisms and diversified financing methods and getting the support of the bank loans.(1)The financing model of land and property developments is the most effective way to make the public benefits of transport back to the construction of urban rail transit. ( 2)The local government bond is a good financing source for the infrastructure funding by the government. (3)The BT project financing is available for the financing for the non-operating infrastructure projects.(4)The medium-term note is the most potential financing way for intercity railway because it has the less restrictions compared with local bonds and corporate bonds. ( 5)The financing models presented in this paper can provide the reference to the financing for intercity railway，suburb railway，urban rail transit and other area.
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Received: 12 April 2013
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2013, Vol. 30 
