Over the last decade, the passenger-kilometers of railways in China have shown notable fluctuations. From 2013 to 2019, there was a steady increase in passenger kilometers, indicating robust growth in railway usage. However, in 2020, the data revealed a dramatic decline of 43.79%, likely attributable to the pandemic. Subsequent years showed significant rebounds with a particularly notable increase of 46.23% in 2022, and a stable growth of 14.03% in 2023, achieving a value of 15.95 hundred billion passenger kilometers. The 5-year average growth rate (CAGR) up to 2023 was 2.43%.
Going forward, the forecasted data from 2024 to 2028 indicates a consistent upward trend in passenger-kilometers, with an annual growth rate of 2.74% and an overall 5-year growth rate of 14.46%, reaching 18.96 hundred billion passenger kilometers by 2028.
Future trends to watch for include:
- Technological advancements in rail transportation and infrastructure.
- Shifts in domestic travel behavior post-pandemic.
- Government policies and investment in the railway sector.
- Impact of environmental concerns on public transportation choices.