随着房地产市场下行，城市轨道交通大干快上的时代，必然走 到尽头。宁波地铁第四期规划遇阻，给出了一个警示：在新的 经济形势下，城市轨道交通要实现健康可持续发展，必须摈弃 旧有模式，迎接新挑战。 作者： 宋馥李 封图：图虫创意 临近年终，各地轨道交通新开线路陆续明确，新一轮城市轨道交通规划也在陆续申报中。 宁波网友11月13日在宁波问政平台咨询地铁第四期规划申报进展，当地发改委回应称，根据国家 最新政策要求，目前申报第四期建设规划的条件尚不成熟，待达到条件后再行上报。网友进一步追 问缘由，宁波市发改委11月17日表示，轨道交通客流强度有待提升。 这一回复激起千层浪。宁波地铁第四期规划申报受阻折射出一个政策风向标：轨道交通规划审批收 紧了。已经持续十多年的轨道交通建设热潮，到了调整的时候。 轨道交通的大扩张，是近些年城市迅速膨胀的写照。过去十多年来，中国完成了史上最大规模的轨 道交通扩张，一口气走过了欧美城市上百年的历程。 交通运输部今年10月公布的数据显示，除运营里程TOP10城市（南京除外）外，只有少数城市的 客运强度超过0.7万人次。也就是说，大多数城市已开通的轨道交通线路客流不及预期。线网规模 扩张带来客流 ...

宋馥李/文 临近年终，各地轨道交通新开线路陆续明确，新一轮城市轨道交通规划也在陆续申报中。 卡住宁波地铁第四期规划的客流强度不足，实质上是诸多城市已投运线路共同的窘境。 所谓轨道交通客流强度，通俗来说就是已运营线路的繁忙程度。数据显示，宁波当前地铁客运强度为每 日每公里0.45万人次，低于国务院规定的每日每公里0.7万人次标准。 根据2018年国务院办公厅发布的《关于进一步加强城市轨道交通规划建设管理的意见》，申报地铁线路 的城市需满足GDP3000亿元以上、财政收入300亿元以上、市区常住人口300万人以上，且拟建线路初期 客运强度不低于每日每公里0.7万人次，远期客流规模达单向高峰小时3万人次以上。 交通运输部今年10月公布的数据显示，除运营里程TOP10城市(南京除外)外，只有少数城市的客运强度 超过0.7万人次。也就是说，大多数城市已开通的轨道交通线路客流不及预期。线网规模扩张带来客流 提升的边际效用在不断降低，但建设成本仍然高企，运营压力进一步加大了。 轨道交通虽然是城市民生工程，但过去，一些城市争先恐后申报项目，更直接的目标是推动沿线土地升 值，通过土地出让来运筹城市经营的大账，并捆绑了城市形象、 ...

Core Insights - In September, China's urban rail transit system recorded a passenger volume of 2.69 billion trips, with an entry volume of 1.6 billion trips [1] - The Ministry of Transport reported a year-on-year increase of 110 million trips, representing a growth of 4.3% [1] Summary by Category Operational Data - A total of 54 cities across 31 provinces and regions, including Xinjiang Production and Construction Corps, operated 333 urban rail transit lines with a total operational mileage of 11,330.5 kilometers [1] - In September, 43 cities operated 274 subway and light rail lines, covering 9,839.3 kilometers, achieving a passenger volume of 2.6 billion trips and an entry volume of 1.54 billion trips [1] - Additionally, 16 cities operated 25 monorail, maglev, and regional rapid transit lines, with a total mileage of 970.7 kilometers, resulting in a passenger volume of 77.57 million trips and an entry volume of 52.21 million trips [1] - Furthermore, 18 cities operated 34 tram and automated guided rail lines, covering 520.5 kilometers, with a passenger volume of 9.62 million trips and an entry volume of 9.08 million trips [1] Growth Metrics - The average passenger intensity for the total operational mileage in September was 0.799 million trips per kilometer per day [1] - The month saw an addition of 119.8 kilometers in operational mileage and the launch of 2 new lines, specifically the southern section of Tianjin Metro Line 7 and the first phase of Xuzhou Metro Line 6 [1]

本月新增运营里程119.8公里，新增运营线路2条，为天津地铁7号线一期南段、徐州地铁6号线一期;新增运营区段9个，为成都地铁10号线三期 首开段(武侯祠站—太平园站)、成都地铁17号线二期、天水有轨电车示范线(花牛站—分路口站)、南宁地铁4号线一期后通段、长春地铁2号线东 延线、深圳地铁16号线二期、深圳地铁6号线支线二期、广州地铁13号线二期延伸段(天河公园站—鱼珠站)、广州地铁14号线二期(乐嘉路站— 嘉禾望岗站)。 | | | | | 2025年9月城市轨道交通运营数据速报 | | | | --- | --- | --- | --- | --- | --- | --- | | 序号 | 城市 | 运营线 | 运营里程 | 各运量 | 讲站量 | 客运强度 | | | | 路条数 | (公里) | (万人次) | (万人次) | (万人次每公里日) | | 1 | 北京 | 29 | 879.0 | 29667.3 | 16315.1 | 1.13 | | 2 | 上海 | 22 | 871.6 | 30867.9 | 17105.6 | 1.18 | | 3 | 广州 | 22 | 761.1 | 26 ...

Core Viewpoint - The Beijing Municipal Planning and Natural Resources Commission and the Beijing Market Supervision Administration have revised the local standard for urban rail transit engineering design, resulting in the new "Urban Rail Transit Engineering Design Standard," which will be implemented on January 1, 2026 [1] Group 1: Enhancements in Design Standards - The new standard increases the total chapters from 26 to 31 and raises the maximum operating speed from 100 km/h to 120 km/h [2] - New provisions for fast and slow train operations are introduced, with fast train speed efficiency not lower than 60% and slow train speed efficiency not lower than 40% [2] Group 2: Operational Efficiency - The standard specifies that during peak hours, the interval for regular lines should not exceed 4 minutes, and for fast lines, it should not exceed 6 minutes [3] - For peak hours, the maximum interval for regular lines outside the main service area should not exceed 6 minutes, while for fast lines, it should not exceed 10 minutes [3] Group 3: Passenger Experience Improvements - The standard emphasizes improving passenger transfer experiences, suggesting the installation of automatic walkways in long transfer corridors [4] - It encourages the inclusion of diverse convenience facilities at stations, such as retail shops, food and beverage areas, and self-service zones [4] Group 4: Safety and Environmental Standards - The standard details safety requirements for underground structures, enhancing anti-floating design and waterproofing measures [5] - It sets energy-saving requirements for lighting, ventilation, and air conditioning systems, promoting the use of energy-efficient equipment [5] - The standard supports prefabricated intelligent green construction technologies, including design requirements for prefabricated stations and tracks [5]

Core Insights - In July, China's urban rail transit achieved a passenger volume of 2.92 billion trips, marking a year-on-year increase of 1.7% [1] Summary by Categories Passenger Volume - The passenger volume in July increased by 230 million trips compared to the previous month, representing a growth of 8.6% [1] - Year-on-year, the passenger volume rose by 50 million trips, equivalent to a growth of 1.7% [1] Operational Data - A total of 54 cities across 31 provinces (autonomous regions, municipalities) and Xinjiang Production and Construction Corps operated 330 urban rail transit lines with a total operational mileage of 11,146.8 kilometers [1] - The actual number of train operations reached 3.74 million trips [1] Specific Transit Types - Among the cities, 43 operated metro and light rail lines totaling 271 lines and 9,658.1 kilometers, with a passenger volume of 2.82 billion trips [1] - 16 cities operated monorail, maglev, and regional rapid transit lines totaling 25 lines and 970.7 kilometers, achieving a passenger volume of 83.14 million trips [1] - 18 cities operated trams and automated guided rail lines totaling 34 lines and 518 kilometers, with a passenger volume of 10.98 million trips [1] Passenger Intensity - The average passenger intensity for the total operational mileage in July was 0.845 million trips per kilometer per day, which is a month-on-month increase of 3.4% but a year-on-year decrease of 5.7% [1]

Core Insights - The Ministry of Transport reported that in July 2025, 54 cities in China operated 330 urban rail transit lines, with a total operational mileage of 11,146.8 kilometers, and a passenger volume of 2.92 billion trips, marking an increase of 8.6% month-on-month and 1.7% year-on-year [1] Summary by Category Operational Data - In July 2025, the total operational mileage of urban rail transit reached 11,146.8 kilometers, with 330 lines in operation across 54 cities [1] - The actual number of train operations was 3.74 million, with a passenger volume of 2.92 billion trips and an entry volume of 1.74 billion [1] Passenger Volume - The passenger volume increased by 230 million trips month-on-month, representing an 8.6% growth, and a year-on-year increase of 50 million trips, or 1.7% [1] - The average passenger intensity for the total operational mileage was 0.845 million trips per kilometer per day, showing a month-on-month increase of 3.4% but a year-on-year decrease of 5.7% [1] City-Specific Data - Among the 54 cities, 43 cities operated metro and light rail lines totaling 271 lines and 9,658.1 kilometers, with a passenger volume of 2.82 billion trips [1] - 16 cities operated monorail, maglev, and regional rapid transit lines totaling 25 lines and 970.7 kilometers, with a passenger volume of 83.14 million trips [1] - 18 cities operated trams and automated guided rail systems totaling 34 lines and 518 kilometers, with a passenger volume of 10.98 million trips [1] New Additions - In July, there was an addition of 19.9 kilometers of operational mileage with one new operational section, specifically the northern section of Tianjin Metro Line 4 [1] - There was a reduction of 0.7 kilometers in operational mileage due to the cancellation of a section of the Guangzhou Haizhu Tram Line [1]

Core Insights - In May 2025, 54 cities across 31 provinces (autonomous regions and municipalities) and the Xinjiang Production and Construction Corps opened a total of 326 urban rail transit lines, with an operational mileage of 10,978.3 kilometers [1] - The actual number of train operations reached 3.68 million, with a completed passenger volume of 2.87 billion trips and an entry volume of 1.71 billion trips [1] - The passenger volume in May increased by 0.2 million trips, or 0.7% month-on-month, and by 0.8 million trips, or 2.9% year-on-year [1] - The average passenger intensity for the total operational mileage in May was 0.84 thousand passengers per kilometer per day, which represents a decrease of 2.5% month-on-month and a decrease of 3.5% year-on-year [1]

Investment Rating - The report does not explicitly state an investment rating for the urban rail transit industry Core Insights - Urban rail transit is a crucial part of urban public transport systems, characterized by speed, punctuality, small land occupation, high capacity, and efficiency, with significant social benefits. The rapid urbanization in China has led to increased urban populations and severe traffic congestion, prompting the government to prioritize urban rail transit development as a key strategy for economic growth, particularly in large cities [4] - The industry is supported by various policies from the Ministry of Transport, National Railway Administration, and the Urban Rail Transit Association, focusing on sustainable development, safety management, and financial support mechanisms [5][6] - The urban rail transit network in China expanded in 2024, with 18 new operational lines and 27 new sections, totaling 748 kilometers, resulting in a cumulative operational mileage of 10,945.60 kilometers across 54 cities [8][10] - The average daily passenger volume reached 88.13 million, with a year-on-year increase of 8.06%, indicating a growing demand for urban rail transit [13] Summary by Sections Industry Overview - Urban rail transit is essential for addressing urban traffic congestion and enhancing environmental quality, with significant economic benefits through the development of surrounding areas and related industries [4] Industry Policies - A series of policies have been introduced to ensure the sustainable development of urban rail transit, including guidelines for operational management, safety supervision, and financial support [5][6] Industry Operation Status - In 2024, urban rail transit passenger turnover reached 267 billion passenger-kilometers, a 10.4% increase year-on-year, with a total passenger volume of 32.24 billion, up 9.5% [13] - The average operational income per vehicle kilometer was 17.26 yuan, while the average operational cost was 33.42 yuan, leading to an operational revenue-to-cost ratio of 57.85% [16] Industry Investment and Construction - The construction investment in urban rail transit continued to decline in 2024, with a total investment of 474.94 billion yuan, down 8.91% year-on-year. The total length of ongoing projects reached 5,833.04 kilometers [17][19] - The industry is transitioning from government-led investment to diversified funding sources, including public-private partnerships (PPP) and other market-oriented financing methods [19] Future Development - The urban rail transit industry is expected to shift from a construction-driven phase to a stable operational phase, facing challenges such as rising operational costs and debt burdens. Companies are encouraged to explore integrated development and diversify operations to enhance efficiency and reduce costs [20]

Core Insights - The 2024 Beijing Urban Rail Transit Service Quality Evaluation results have been released, maintaining the previous year's evaluation method without scoring individual lines or ranking them [1][2] - The evaluation indicates that areas such as "train noise" and "transfer convenience" still require improvement, which has been a recurring issue in past evaluations [4][5] Evaluation Results - The overall service quality score for the Beijing urban rail network in 2024 is 1014.6 points, with the Beijing Subway Operations Company scoring 1012.1 points, and the Beijing-Kowloon Metro Company scoring 974.6 points [4] - The average scores for passenger satisfaction, service assurance capability, and key operational indicators are 283.52 points, 298.23 points, and 388.33 points respectively [4] Passenger Feedback - Passengers rated aspects such as "station guidance," "ticket purchasing and checking," "station environment," "train environment," "boarding order," "service facilities," and "staff attitude" positively, while highlighting the need for improvements in "train noise" and "transfer convenience" [4][5] Operational Enhancements - In 2024, the Beijing urban rail transit system aims to optimize network transportation efficiency through measures like reducing train intervals, operating express trains, and implementing flexible capacity organization [3] - New services such as "convenient direction cards" and improved signage have been introduced, along with enhanced international service levels for foreign passengers [3] Historical Context - The issues of "train noise" and "transfer convenience" have been consistently noted in previous evaluations, indicating a long-standing challenge for the Beijing urban rail transit system [5]