MTR CORPORATION(HK:00066) Di Yi Cai Jing·2025-09-28 13:56Core Insights - Shenzhen Metro's operational mileage has surpassed 600 kilometers, reaching 609.6 kilometers, ranking fifth nationally [2][3] - The rapid expansion of the Guangdong-Hong Kong-Macao Greater Bay Area's rail transit network is facilitating the smooth flow of regional production factors and reshaping urban space and industrial patterns [2][4] Summary by Sections Shenzhen Metro Expansion - Shenzhen Metro's operational mileage reached 609.6 kilometers with the opening of Line 16 Phase II and Line 6 Branch II, maintaining the highest network density among mainland cities at 0.305 kilometers per square kilometer [3] - The metro's ridership has been robust, with an entry volume of 169.48 million and a passenger flow of 300.13 million in August, ranking third nationally [3] - Daily average ridership from January to August was 8.95 million, showing a significant year-on-year increase of 7.1% [3][4] Population Growth and Demand - The surge in metro ridership is attributed to a substantial increase in the resident population, which reached 22.38 million by the end of 2024, marking a year-on-year increase of 741,100 [4] - The opening of the Shenzhen-Zhongshan Channel and the rise in cross-border travel from Hong Kong have also contributed to increased metro usage [4] Future Developments - Shenzhen is set to welcome four new metro lines by the end of the year, enhancing the coverage and operational efficiency of its rail network [4] - Ongoing construction of the metro's fifth phase is expected to push the total mileage beyond 800 kilometers by 2030, connecting with neighboring cities like Dongguan and Huizhou [4][5] Greater Bay Area Connectivity - The integration of Shenzhen's metro with Dongguan's rail system is underway, with plans for extensions that will enhance connectivity between the two cities [5] - The overall development of the Greater Bay Area's rail network is anticipated to significantly reduce commuting costs and time, fostering economic collaboration among cities [8] Economic Implications - The expansion of the rail network is expected to reshape the industrial and population layout in the Greater Bay Area, enhancing the flow of talent, technology, and capital [8] - The construction of cross-city metro lines will facilitate a "same-city life" experience for residents, while also restructuring urban and industrial logic [8][9]