Perspective Of Highway Fees: Juggling Profits Over Real Estate

What is the industry that makes more money than real estate?

It's a highway.

With the development of motor vehicles into the family and logistics industry, there are some high speed roads in China.

Profits exceed real estate

It seems that many people are surprised that the highway has become the most profitable industry.

According to the annual report of listed companies, the main business profit margin of Ninghu Expressway (5.60,0.13,2.38%) in 2010 was 56.21%, and Jiangxi Guangdong Expressway (4.52,0.00,0.00%) was 48.81%, Chengyu.

The audit report of the Audit Commission and the Beijing Municipal Audit Bureau shows that the capital airport expressway has a total investment of 1 billion 165 million yuan, of which 765 million yuan is bank loans and 3 billion 200 million yuan has been charged by the end of 2005.

The total cost of the Beijing Shijiazhuang expressway project is 1 billion 10 million yuan, of which more than half come from road maintenance fees. By December 2004, the toll toll was nearly 1 billion 800 million yuan.

This is not an extreme case.

In 2008, the audit department conducted an audit of the operation and management of toll roads in 18 provinces and municipalities, and examined 35 operational highways in 12 provinces and municipalities in Shandong. The results showed that the toll income obtained by these roads was several times higher than that of the investment cost and even more than 10 times.

Li Shuyuan, a retired senior engineer of China Institute of Atomic Energy, has been the deputy to the Beijing Municipal People's Congress from 1988 to 2007.

In the past more than 10 years, she proposed almost every year the bill on Beijing Jingshi high speed toll, calling for the cancellation of Beijing Shijiazhuang expressway toll.

At the same time, the NPC deputies and CPPCC members in Guangdong, Jiangsu and other places also frequently called for the reduction or cancellation of some "

Around the problem of "profiteering" of expressway, there are frequent legal disputes in recent years.

In 2004, Renmin University of China law doctor song De Xin complained to Henan Expressway Development Co., Ltd. in 2005, Beijing lawyer Pang Biao and Hu Fengbin successively took the North China Expressway (3.74,0.00,0.00%) highway Limited by Share Ltd and Beijing capital Expressway Development Company to court. In 2007, lawyer Li Jinsong of Beijing Yitong law firm once again brought the capital Expressway Development Company to court; in June 2011, Li Jinsong once again brought the capital Expressway Development Company to court.

Changing "tricks" and charging more

Reporters in Beijing, Guangdong, Jiangsu and other places, found that the "enough to receive" and "extended fees" situation, mainly related to the management of the means of charge "magic tricks":

First, change "sex".

After more than 3 years of charging, the capital airport expressway changed its operational nature in 1997 and became a business road. It was re approved for 30 years.

After 12 years of charging, Jingshi Expressway was converted into a business road in 1999, and the fee was re approved for 30 years.

Two, change the "quality".

According to regulations, highway toll can only be used to repay loans, maintenance of roads and related management costs.

However, in the actual operation of various areas, the implementation of the unified loan system, such as the Guangfo and Guangzhou Shenzhen Expressway (4.83, -0.09, -1.83%) in Guangdong Province, has been used to subsidize those unprofitable highways and the construction of new highways.

Three, change "face".

Because of the overseas listing or the introduction of foreign capital, some expressways have become a reason why fees are hard to shake.

For example, the capital airport expressway is due to be listed in Hongkong, and the new 30 year fee period has been promised to investors.

The Southern China Expressway in Guangzhou is also invested by Hongkong enterprises and can not change the charging government.

"Three changes" is the direct cause of this problem, and the deeper reason is the lagging and lack of our existing toll highway management policies and regulations.

The responsible person of the Ministry of pport has not yet formulated and specified the rationality of the operating highway.

Li Jinsong, a lawyer of Beijing Yitong law firm, who has long been concerned about highway tolling charges, said that the management policy of highways has not been able to keep up with the speed of "renovation of the highway". The policy is always running after problems, and the new policy has not been traced back to the past.

For example, in September 2004, the State Council promulgated the regulations on the management of toll roads, which stipulates that the right to pfer highway tolls should not be extended, and the time limit for toll collection by the State shall not exceed 30 years.

In many places, the high speed roads have been turned into operational highways before, and the fees are basically not before.

Li Jinsong said that after similar years of fees, the practice of changing the nature of the road and increasing the charging period seems to be no problem at all, and all kinds of examination and approval procedures are also available.

But the fees have already exceeded investment, plus the increase of the fee period. These are against the relevant principles and principles.

Suit the remedy to the case and cure chronic diseases

The five departments of the Ministry of pport and the national development and Reform Commission started the special cleaning work of highway toll in June 20th, which mainly focused on overdue fees, excessive toll standards and unreasonable charges.

Different from the past, this governance proposes that the expressway built before the implementation of the regulation on toll roads in 2004 and the expressway that has been pformed into a business nature will also be included in the governance area.

We must formulate and implement specific measures for regulating the time limit.

At the same time, for toll roads with high fees and high operating income, the tolls should be reduced according to the principle of recovery of investment and reasonable repayment of operating roads, repayment of loans on time by government loan repayment highway and meeting the needs of maintenance management funds.

Some experts said that at present, the people's opinions are the biggest and the most concentrated ones are such roads.

This cleaning work is very important and crucial to clarify this concept, and will provide a way to solve this long-term contradiction.

Hu Fangjun, executive deputy director of the Institute of Finance and finance of the Institute of science and technology of the Ministry of pport, said that the toll on expressways should not be regarded as a business income, but a quasi fiscal revenue.

We should increase government input and control the scale of operating roads.

At the same time, it can provide a reasonable rate of return for a business road.

For example, if profits are locked at 10%, the road of good returns will reach 10% of the profits promised. Even if they do not expire, the government can recover them in advance.

If the benefit is not good, the charging period can be lengthened until the expected profit is reached.

Of course, it is necessary to strengthen supervision and control so as to make the charges and usage pparent and open, and strictly control the revenue and cost of roads, so as to prevent fraud.

It is understood that after the start of the management work, the BeiJing Capital Airport High-speed first reduced the tolls price, the Tianzhu main station from Beijing direction fees reduced from 10 yuan to 5 yuan, at the same time, all the way to Beijing to stop charging.

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