编者按：2012年5月21日，我院朱宁副院长受邀作为评论嘉宾参与录制中央电视台英语新闻频 道《财经亚洲》节目，评析铁道部向民间资本开放这一事件。

Host：
Ok, for more on these reforms, and why the Ministry of Railway is turning to the private investment. Now, we are joined by Professor Zhu Ning from Shanghai Jiao Tong University. Professor Zhu thanks for being with us tonight. Now, let’s talking about finance a little, the minister is struggling with mounting debts with operating causing a total of around 380 billion dollars. It seems the need for funding is pretty serious, what is the alternative? Why do they need it now? Why turn to the private sector?

Zhu Ning：
Well, I think the primary reason is that it is where the money is. The Ministry of Railway has being receiving a lot of funds through either the fiscal appropriation or from the bank notes from state-owned banks. Now the situation is getting worse, both sources seem to be much weaker than they expected. So just to make sure, things can operate properly, the Ministry of Railway would have to seek alternative funding sources, which is the private sector.

Host：
OK, we know that the Ministry said we lost one billion US Dollar in the first quarter this year and total debt as I mentioned amounts to hundreds of billions of dollars. That does not exactly make the Ministry of Railway sound like a great investment to private sector? How is it going to attract the private money?

Zhu Ning：
Not a very attractive investment at the current price, but I think three things would have to happen before private investment become interested in investment in the railway system. I think the one thing is the state or the government would have to reduce it interference or the influence on the railway system. For example, the railway system has being given a lot of jobs for carrying trips, carrying students during the spring festival period, and that would have to be reduced. The second thing is I think the price would have to be flexible or would have to be reflecting the supply and demand relationship. Currently, the railway price have being under heavy supervision and regulation from the cabinet. Now that there are private sector coming in, there could be more flexibility with how the prices will be set. And last but certainly not least, there have certain to be excitability how the bidding process and how the contract would be written between the state and private sector.