The Maglev Line Now Operates in Shanghai

The Maglev Line Now Operates in Shanghai

Shanghai boasts China’s only current maglev line, with a total investment of 10.03 billion yuan ($1.47 billion). The 30 kmlong maglev line was built using German technologies and has a high speed of 431 km per hour.

Approved for construction in June 2000, the Shanghai Maglev Line was completed on December 31, 2002, launched on October 11, 2003, and examined and accepted by the government on April 26, 2007.

Designed to have a daily passenger turnover of 23,000, the line now sees less than 5,000 passengers due to high ticket prices. Price cuts in recent years haven’t helped boost passenger turnover.

The line cost nearly 1 billion yuan ($146.4 million) for equipment updating by the end of 2009. The line has been operated at an annual loss of 500-700 million yuan ($73.2-102.5 million), with accumulated debts of more than 7 billion yuan ($1 billion).

(Source: edited by Beijing Review)