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Cost-Benefit Analysis of High-Speed Rail Link between Hong Kong and Mainland China
| Content Provider | Semantic Scholar |
|---|---|
| Author | Tao, Ruiyang Liu, Siyuan Huang, Can Tam, Chi Ming 譚志明 |
| Copyright Year | 2011 |
| Abstract | The Legislative Council in Hong Kong has approved a funding of USD$8.60 billion to build the high-speed rail (HSR) line linking mainland China. HSR is a break-through technology that allows trains running at a speed over 250 km per hour. The most controversial part of the HSR investment is whether its cost could be compensated by the social benefits. In this study, a cost-benefit analysis of the Hong Kong to mainland HSR (HKM-HSR) line is carried out. First, all the direct and indirect costs, and social benefits are defined; then, monetary equivalents are assigned to these elements; third, all the future values are discounted into present values and aggregated. The results show that the project has a positive net present value (NPV) up to USD$2,068.49 million, which proves that the investment is worth. In addition, other transport alternatives, i.e. the existing roadway and conventional railway, are examined and compared with HKM- HSR, which unveils that HSR has the largest positive NPV among these three passenger transportation modes because of its excellent performance in ticket revenue, travel time savings and safety improvement. |
| Starting Page | 36 |
| Ending Page | 45 |
| Page Count | 10 |
| File Format | PDF HTM / HTML |
| DOI | 10.32738/jeppm.201107.0005 |
| Volume Number | 1 |
| Alternate Webpage(s) | http://www.ppml.url.tw/EPPM_Journal/volumns/01_01_July_2011/ID_004.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
