Beijing-Shanghai rail to spur economic growth
Updated: 2011-06-30 16:46
By Yin Mingzhe (chinadaily.com.cn)
The Beijing-Shanghai high-speed railway will create a new economic growth belt along 1,318 kilometers of rail lines, the Guangzhou-based Nanfang Daily reported Thursday.
Industry insiders said China's newest high-speed railway will strengthen the integration of the Bohai Sea Rim and the Yangtze River Delta economic zones and also promote balanced, sustainable development of urbanization and economy in the region.
Before the high-speed train began operations this week, cities along the rail has already been benefiting from its potential economic effect. Housing prices in these cities have risen despite a general downward trend of the real estate market, the newspaper reported.
The rising housing prices along the rail line are due to the high-speed train's projected effect of business clustering. The urban conglomeration of Beijing, Tianjin and Hebei province could surpass the development of the Pearl River Delta region because of inter-city transportation efficiencies, strong industrial foundation, and excellent harbors in this region, analyst said, adding that Beijing's political center status is also an advantage.
An expert from Beijing Jiaotong University told the newspaper that the rail also will have an "intra-city effect". For instance, Shanghai has already become an economic and financial center of China. The high-speed railway will help Shanghai attract more investments, skilled professionals and enterprises to allow the city to become an international financial center.
The Beijing-Shanghai high-speed railway will expand its economic effects to the whole Yangtze River and Yellow River areas, which will promote economic development in Central China, the newspaper reported.
The rail also might optimize resource allocation for industries in cities along the rail line, Nanfang Daily reported.
The Beijing-Shanghai high-speed railway started its fresh trip at 3 pm Thursday.