Reconstruction of Corresponding Property Rights:A Must for the Railway Reform

While the direction and procedure of the railway reform are mostly determined by how much can the particularity and the complexity of railway property rights be recognized and realized,it is easier and more helpful to look into such rights from the perspective of their substantial form.The particularity of the railway property rights system can be divided into two parts: the internal common property's sharing problem caused by the contradiction between the integrity of the transport products and the companies' operating boundary on the corresponding time-space scale;and the external inappropriate controlling problem caused by the government-corporation hybrid and government-capital asset hybrid nature of the railway administrative system.Dispatching control is the main content of the railway property rights system and the government's responsibility for the industry is also important.The direction of the reform is to separate firstly the government and the enterprise,and then the government and the capital assets with the purpose of breaking down the administrative monopoly.Then according to the principle of minimizing the transaction cost,the restructuring of the railway industry should be conducted and the corresponding trading mechanism and public transportation compensation system should also be established.