China’s high-speed rail network is expected to reach a total length of 50,400 kilometers by the end of 2025. Fares on some sections are 3 to 4 times those of conventional rail, while many stations are reportedly quiet. The operating company’s debt was reported to be approaching $1 trillion as of 2024.
China’s high-speed rail network is expected to reach a total length of approximately 50,400 kilometers by the end of 2025, reportedly equivalent to around 17 times the size of Japan’s Shinkansen network. While the network has continued to expand to connect major cities, fares have been set high, and many stations are reportedly quiet.
Financial results by route are not disclosed, and profitable sections are said to be limited, with loss-making routes accounting for the majority overall. Some analyses have also indicated that longer routes with low passenger volumes tend to incur deeper losses. There is a view that restoring financial health will take time.
Fushun Station has a waiting room with 1,000 seats, but the number of actual users was reportedly around 20. This highlights the gap between excessive station expansion and demographic trends. Citing observations by The Wall Street Journal, the report says that quiet stations have spread across China.