A high-speed railway connecting the two major port cities of Wenzhou and Hangzhou in east China's Zhejiang Province officially opened on Friday, highlighting a breakthrough for private funding in China's railway construction.
The project, which began in 2017, was completed in two phases, with private enterprises investing 51 percent in the section between Wenzhou City and Yiwu City, a vital distribution hub for small commodities.
"We created a foundation for private investment, which allowed investors to reduce their capital contribution. Additionally, we established a risk-sharing mechanism between social capital and private enterprises to ensure risk management," said Zhang Yi, manager at the Department of Transportation Management of Zhejiang Communications Investment Group Co., Ltd.
Under this mechanism, private enterprises will receive all earnings during the first 30 years of operation, while risks are shared with social capital. If earnings fall short of expectations, the government will provide subsidies to alleviate financial pressure on private enterprises.
Extending 260 km, the nine-station railway has a designed speed of 350 km per hour, offering a rapid transit solution along the route threading the economic hubs of Hangzhou, Yiwu and Wenzhou in the delta area, known as one of the country's most economically vibrant regions.
New high-speed railway connecting major port cities opens in east China
A large array of newly developed products and technologies for smart construction is on display at the 2024 China International Fair for Trade in Services (CIFTIS) in Beijing, demonstrating how smart manufacturing facilities can make engineering more efficient and energy-saving.
At the Shougang Park in western capital city, one of the major exhibition areas of this year's CIFTIS, a total of 123 leading construction enterprises from home and abroad have been showcasing their groundbreaking achievements of intelligent engineering construction.
One of the highlights is an unmanned tower crane designed by China Construction Eighth Engineering Division. With multiple sensors and intelligent control systems, the equipment can be operated remotely and reduce costs by more than one-third.
The product is part of the company's engineering solution of 5G smart construction sites. The overall architecture of the system is supported by a 5G telecom network and various advanced technologies, such as artificial intelligence (AI), blockchain, and Internet of Things (IoT). According its developer, the solution enables effective labor management, workplace safety inspection and quality control.
"The 'smart construction site' significantly reduces costs, saving about 70 to 80 percent, which greatly lowers our management expenses," said Liu Dawei, design manager at General Contracting Company Beijing Branch of China Construction Eighth Engineering Division.
China Construction First Group showcases its containerized concrete modules at the exhibition. This structure, integrating interior and exterior decorations, electromechanical, equipment piping, kitchen and sanitary facilities, can be directly lifted and assemble together, making house construction as easy as building blocks.
"The modules produced by the factory are already rooms with decoration done. When assembling them on site, we mainly use the dry operation including welding and bolted connection, free from the need for another concrete pouring. This approach significantly shortens the construction period and minimizes weather-related limitations, allowing an early completion of the entire building," said Ruan Hao, head of the design manager department of the Design and Research Institute under China Construction First Group.
The five-day CIFTIS 2024 kicked off simultaneously at the China National Convention Center (CNCC) in eastern Beijing and the Shougang Park in the western capital area on Thursday, spotlighting the latest achievements and trends of trade in services, with activities ranging from summits and exhibitions to business negotiations and promotions, as well as achievement releases.
Smart construction technologies displayed at CIFTIS 2024
