·Toll road debt 3.8 trillion Ministry of Communications: debt risk controllable

The Ministry of Transport said on June 30 that as of the end of 2014, the total construction investment of the national toll roads totaled 614.45 billion yuan. Although the debt balance remains high, the debt risk is still in an overall controllable state.
In response to the road charging problem that is of common concern to all walks of life, the Ministry of Transport said that due to the excessive dependence on the toll road policy in the development of highway construction, the government's public finances have insufficient investment in highway infrastructure, the scale of toll roads is too large, and debt risks are aggravated. Problems, toll road policy adjustments and regulatory amendments need to be strengthened.
Wang Tai, deputy director of the Highway Bureau of the Ministry of Transport, revealed that the revised Regulations on Toll Roads will be announced to the public in the near future and widely consulted.
The press conference of the Ministry of Transport. Photographic Zhang Jun, Ministry of Transport, press conference, on-site debt risk is in an overall controllable state The Ministry of Transport announced on the same day the "2014 National Toll Road Statistics Bulletin" shows that as of the end of 2014, the national toll road mileage of 162,600 kilometers, accounting for the total mileage of the road 3.6% of the accumulated construction investment totaled 6,144.90 billion yuan, and the debt balance was 3,845.14 billion yuan.
“The continuous acceleration of road construction and the continuous increase of investment have made important contributions to the implementation of steady growth and benefit to the people's livelihood.” Wang Tai, deputy director of the Highway Bureau of the Ministry of Transport, introduced that in 2014, the toll road mileage increased by 0.61 million kilometers. Among them, the expressway added mileage of 0.63 million kilometers, and the primary and secondary roads decreased by 0.02 million kilometers; the total accumulated construction investment increased by 701.72 billion yuan, of which the total accumulated construction investment of the expressway increased by 634.34 billion yuan.
According to the data provided by the Ministry of Transport, the total amount of construction investment in the nation's toll roads was 6,144.90 billion yuan, the government repaid roads were 33,412.2 billion yuan, and the operational roads were 2,803.67 billion yuan, accounting for 54.4% and 45.6% of the total construction investment respectively; The highway is 55,410.7 billion yuan, the first-class highway is 340.71 billion yuan, the secondary road is 129.76 billion yuan, and the independent bridge tunnel is 133.36 billion yuan, accounting for 90.2%, 5.5%, 2.1% and 2.2% of the total construction investment respectively.
By the end of 2014, the accumulated capital investment in the construction of toll roads nationwide was 1,879.70 billion yuan, and the capital ratio was 30.6%. The accumulated debt capital investment was 4,265.20 billion yuan, accounting for 69.4% of the total construction investment of toll roads. Among them, bank loans were 40.08 billion yuan, and other debts were 257.14 billion yuan, accounting for 94.0% and 6.0% of accumulated debt capital investment, respectively.
"With the increase in the mileage of new toll roads and the total investment in construction, as well as the rising construction costs, the debt balance of China's toll roads will remain high." Wang Tai introduced that the total amount of toll roads in China reached 3,845.14 billion yuan in 2014. It accounts for 62.6% of the total investment in cumulative construction of toll roads nationwide.
Wang Tai said that the debt risk of toll roads in China is still in an overall controllable state. He analyzed that the current debt balance of 3,845.14 billion yuan was reduced by 420.06 billion yuan compared with the initial debt of 425.52 billion yuan, accounting for 9.85% of the initial debt, indicating that the debt of the toll road as a whole is still effectively repaid.
Wang Tai said that in 2014, the toll revenue was 391.6 billion yuan. After deducting the necessary maintenance, operation, taxes, and other expenses, the remaining funds available for debt repayment were 263.66 billion yuan, which was greater than the demand for 210.11 billion yuan in the year. It can also be used for 53.55 billion yuan, indicating that the toll road has sufficient repayment ability as a whole and the debt risk can be controlled.
"In the long run, until the peak of large-scale construction, the scale of construction will fall, the road network will be stable and perfect, and the annual increase in debt will also decrease. Toll revenue will increase with the increase of traffic volume. The solvency will continue to increase, and the debt scale will gradually decline, and the balance will be balanced until all debts are repaid.” Wang Tai said.
High operating management fees and subjects. According to data provided by the Ministry of Transport, in 2014, the national toll road toll revenue was 391.60 billion yuan, expenditure was 548.71 billion yuan, and the income and expenditure gap was 157.11 billion yuan. "The overall income can not be paid." Wang Tai said.
The comparison results show that the toll road deficit in 2014 increased by 91.01 billion yuan compared with 66.05 billion yuan in 2013. In this regard, Wang Tai believes that there are three main reasons: the increasing debt scale has led to a substantial increase in debt service payments; the toll road has entered the peak period of debt repayment; the statistical system has been further improved, and the statistical accuracy has been further improved.
Among the specific expenditures, the principal and interest expenses are big. Statistics from the Ministry of Transport show that in 2014, the national toll road expenditures were 420.77 billion yuan, accounting for 76.7% of the toll road expenditures. In addition, maintenance expenditures were 46.92 billion yuan, operating management expenditures were 5.34 billion yuan, taxes and expenditures were 24.95 billion yuan, and other expenses were 2.67 billion yuan, accounting for 8.6%, 9.7%, 4.5%, and 0.5%, respectively.
The "First Financial Daily" reporter noted that in all expenditures, operating and management expenditures reached 53.40 billion yuan, far exceeding the maintenance expenditure. In response to this, Wang Tai said in response to a question from the reporter, "The high cost of operation and management has a lot to do with the subjects included."
He explained that the operation management fee is not only the personnel expenses, it includes information engineering fees, maintenance facilities for toll facilities, personnel salary insurance, social payment, vehicle maintenance fuel, communication services, water and electricity, heating, ticket printing training, accident clearing Waiting for 11 expenses, "In terms of tunnels, the cost of electricity is a big one. If there is ventilation, the electricity consumption is very large."
“In addition, toll roads are labor-intensive, and each type of manual toll lanes requires three shifts, and labor costs are high.” Wang Tai said that this situation will change with management innovation and technological progress, and will pass in the future. ETC networking and large-scale promotion and application, some artificial lanes are transformed into ETC lanes, and personnel costs will gradually drop.
Yan Mingyuan, director and researcher of the Development Research Center of the Highway Science Research Institute of the Ministry of Transport, told this reporter that the so-called high welfare of the people is a "rumor." He said that the Ministry of Transport had conducted a follow-up investigation last year. "Overall, it should be said that there are some differences in various regions. In general, the payrolls should be paid about three or four thousand a month, and the actual ones are also It’s two or three thousand.”
Wang Tai said that in the next step, the Ministry of Transport will continue to make the toll road information disclosure a long-term system, making it a "normal", and will actively absorb reasonable suggestions from all walks of life to enrich and improve the toll road information disclosure system.
Wang Tai revealed to reporters that the Regulations on the Management of Toll Roads, which is currently being revised by the Ministry of Transport, has specifically added an independent chapter on “Public Highway Information Disclosure”. “At the same time, the Ministry of Transport is also studying the Measures for the Information Disclosure of Toll Roads. In the future, the indicators and subjects for toll road information disclosure will be further refined and the content will be more abundant."

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