Shenzhen Railway Group is committed to becoming an operator of rail assets that create dual economic and social values, moving forward from seeking the balance of rail construction funds to pursuing the goal of integrated development of society and enterprises, establishing a development mechanism of benefit sharing and government-enterprise coordination, helping cities achieve industrial upgrading, pursuing the maximization of the comprehensive value of enterprises, governments and cities, and driving the high-quality development of cities in the Greater Bay Area of Guangdong, Hong Kong and Macao, Promote the upgrading of the sustainable development model of integrated cities.

Shenzhen Metro Group Co., Ltd. (hereinafter referred to as Shenzhen Railway Group) actively explores the "rail+TOD comprehensive development" model, continuously improves the sustainable development mechanism of self-hematopoietic, and upgrades the model to link the high-quality development of the city and society. In 2021, Shenzhen Railway Group achieved an operating income of 16.397 billion yuan and a total profit of 2.966 billion yuan, becoming one of the most profitable urban rail enterprises in the mainland of China under the full cost accounting.

01 Upgrade mode integrates high-quality urban development

In the process of implementing the concept of TOD development, the "rail+TOD comprehensive development" model of Shenzhen Railway Group is gradually mature and stable. According to the 2022 Research Report on China's Urban TOD Index for Urban Renewal, Shenzhen's TOD status and renewal potential are excellent, ranking first in the country.

First, it is deeply rooted in the "rail+TOD comprehensive development" to promote the sustainable development of rail transit and urban space integration. By innovating the overall planning, design and construction mechanism of the integration of the rail hub and the upper property, build a three-dimensional, efficient and intensive urban ecological space, promote the synergy of the development of the hub site and the surrounding areas, and realize the upgrading and development of the "rail+TOD comprehensive development" model from "single development version 1.0", "complex development version 2.0" to "station and city integration version 3.0" and "industry and city integration version 4.0". Shenzhen Railway Group has created and obtained 14 TOD comprehensive development projects in the construction of Phase II and Phase III of the rail transit. It is estimated that the development income (land price+development profit) can fully cover the capital demand of the main engineering enterprises in the adjustment projects of Phase I, II, III and Phase III of the rail transit, and greatly reduce the financial burden of the government. Good development and operation income can effectively feed back the construction and operation of rail transit, and the iterative upgrading of the development model can further promote the deep integration of rail transit property and urban development.

The second is to explore the urban renewal mode of station-city integration with the concept of "integration of industry and city", and provide comprehensive solutions to eliminate urban diseases. After entering the construction period of the fourth phase of rail transit, Shenzhen Railway Group, with its excellent planning and design, rail construction, market-oriented financing and "organization" capabilities, plans to develop "station and city integration", focuses on comprehensive transportation hubs, builds industrial highlands and dynamic communities around important nodes of rail transit, and deeply solves the existing problems of industrial and urban integration and development that are divided and blocked, and through innovative and intensive use of land Three-dimensional layout of full-format buildings and hub space, creating a representative TOD multi-dimensional complex benchmarking project, promoting the seamless connection of urban travel, production, life, shopping and leisure, improving the convenience of people's life and the humanization of transportation, enabling urban economic development while sharing development results with the people.

The third is to formulate a strategy to promote the effective implementation of the model. Shenzhen Railway Group is committed to becoming an operator of rail assets that create dual economic and social values, moving forward from seeking the balance of rail construction funds to pursuing the goal of integrated development of society and enterprises, establishing a development mechanism of benefit sharing and government-enterprise coordination, helping cities achieve industrial upgrading, pursuing the maximization of the comprehensive value of enterprises, governments and cities, and driving the high-quality development of cities in the Greater Bay Area of Guangdong, Hong Kong and Macao, Promote the upgrading of the sustainable development model of integrated cities.

02 Innovation mechanism to strengthen internal and external resources guarantee

First, the TOD comprehensive development mechanism has been continuously innovated. Shenzhen Municipal Government strongly supports Shenzhen Railway Group to explore the comprehensive development of TOD, and clearly allocate land plots to support it at the initial stage of rail transit construction. At the same time, by gradually improving the mechanism, the property on the depot will be divided into layers and provided with land separately, so as to realize the three-dimensional and comprehensive utilization of land resources in the convenient sections of rail transit. In 2013, the government issued the Interim Measures of Shenzhen Municipality on State-owned Land Use Right Valuation and Investment, which injected the right to use the property on the rail transit into the enterprise, and then changed to the conditional bidding, auction and listing method for the rail financing plot with the adjustment of the national policy. Under the guidance and support of the government, Shenzhen Railway Group actively explored the overall planning and organizational development of the land around the railway, and comprehensively innovated the urban renewal mode of "station city integration". By the end of June 2022, Shenzhen Railway Group has obtained 34 projects for rail construction, including 23 projects for obtaining land development rights, 4 public housing projects, 6 agent construction projects and 1 other project, with a total construction area of 12.64 million square meters.

Figure 1 Shenzhen Railway Real Estate Building

The second is to innovate the internal coordination mechanism of TOD comprehensive development. The Group established a subordinate legal entity enterprise, Shenzhen Railway Real Estate (Figure 1), which is responsible for the development of the station city, fully authorized and effectively managed, gave full play to the subjective initiative of the subordinate enterprises, connected with the market, improved the management system of the whole process of site selection, planning, scheme, land acquisition, development, sales, and comprehensively improved the level of the integrated development of the station city. At the initial stage of rail transit construction, interface shall be reserved, technical conditions shall be provided, and the construction and management coordination mechanism of "integrated planning, integrated design, integrated construction and integrated operation" shall be gradually established and continuously improved to promote the maximization of efficiency and benefits. Third, adhering to the corporate spirit of "Shenzhen Railway for the People". Promote the construction of more people's livelihood projects on the rail and expand the supply channels of public housing. Up to now, 22400 sets of public housing have been delivered and 17400 sets are under construction; Twenty-nine schools have been built and 12 have been delivered, contributing to the realization of people's yearning for a better life.

03 Solve problems and break through the technical bottleneck of comprehensive development of rail property

The first is to break through the technical restrictions of the property on the rail transit and the underground space. Shenzhen Railway Group actively cooperates with domestic scientific research institutions and relevant colleges and universities to carry out research on the technology of load, height limit and fire prevention of the property on the track, which has solved technical problems for the comprehensive development of the property on the track and underground space in new forms. It includes breaking through the specification to create the unique full-frame-supported transfer structure system of the depot, developing the thick plate transfer system of various types of houses suitable for the upper cover of the depot in the later stage, reducing the vibration and isolation technology of the upper cover of the depot, breaking through the limit of the seam length of the cover plate of the depot, and reducing the potential water leakage. The Qianhai Comprehensive Transportation Hub Project was included in the Recommended Catalogue of Land Saving Modes for Comprehensive Development and Utilization of Underground and Underground Space of Rail Transit by the Ministry of Natural Resources of the People's Republic of China.

The second is to prepare the development and design guidelines and standard system of the upper property. Led the preparation of the first application guide for the design of the upper building structure of the metro depot in China - "Design Standard for the Upper Building Structure of the Shenzhen Metro Depot", upgraded the enterprise standard to the standard of Shenzhen, filled the gap in the design of the upper building structure of the rail transit vehicle base, and explored and accumulated experience for the design of the upper building structure of the national rail transit vehicle base. The standard innovatively puts forward the "full frame-supported shear wall structure", which has been widely used in new projects. The height of the upper building has been increased from 50 meters to more than 150 meters, which not only achieves the goal of "building land" on a larger scale for the city, but also multiplies the development space and economic benefits of the project.

04 Lean development to consolidate the core competitiveness of station-city integration development

At the early stage of the implementation of the "rail+property" model, Shenzhen Railway Group mainly focused on cooperative development. By learning and learning from the advanced management experience of the partners, and at the same time comparing and surpassing the target market, it explored and formed the domestic leading "rail+TOD comprehensive development" innovation model, and formed the core competitiveness of the integrated development of station and city with the hub as the core.

First, gradually settle the solid strength of station city development. Introduce professional managers+professionals, penetrate the "circulation system" of the company with "fresh blood", and improve the overall combat effectiveness of the team. At present, Shenzhen Railway Group has upgraded its investment, financing and allocation of land resources projects along the railway to focus on independent development, and actively seeks to expand market-oriented projects along the railway by taking advantage of its professional capabilities and integrated coordination advantages.

The second is to improve the modern management level of enterprises. According to the overall deployment of the three-year action of state-owned enterprise reform, Shenzhen Railway Real Estate has built a relatively complete corporate governance structure, formed a complete and mature system, and various governance entities perform their respective functions, operate in coordination, and effectively check and balance, and the governance capacity has been continuously improved to escort business development.

Third, continuously improve the development and management ability. Promote the management and control mode of "strong project management and strong functional service", and continue to empower and improve the efficiency of the project. Build a standardized development system in an all-round way, carry out standardization research on design, products, technology, cost and management, and create a "replicable" and "menu-like" operation guide.

Fourth, adhere to the guidance of digital intelligence, deeply apply BIM technology, actively connect with CIM construction, build smart project management system, and enable project development to improve quality and efficiency. The development efficiency of Shenzhen Railway projects has been constantly refreshed. Six new land acquisition projects, including Shenzhen Railway Jingcheng, have successfully achieved "land acquisition and construction", significantly shortening the construction period; It took only 21 months from the commencement of the main works to the completion of the project, which is 6 months shorter than the conventional construction period, creating the "Shenzhen acceleration" of the comprehensive development of rail property and achieving the efficiency lead.

Fifth, establish TOD comprehensive development brand. In 2021, the city's first TOD brand exhibition hall will be located in the Shenzhen Railway Real Estate Building, and the Shenzhen Railway TOD brand will be released grandly, conveying the brand positioning of the company's "rail city founder", the brand concept of "empowering the future of the city" and the brand slogan of "reaching the infinite possibility", and establishing the product system of "government system", "environment system" and "city system", with the product and market recognition increasing; The company's "Brand Renewal and Upgrade, Start a New Journey of" Empowering the Future "was selected into the typical case set of state-owned enterprise brand construction of the State-owned Assets Supervision and Administration Commission of the State Council.

Figure 2 Rendering of Qianhai Hub Project

The sixth is to build the core competitiveness of the integrated development of stations and cities with hubs as the core. Carry out a series of research on the intensive and efficient comprehensive development strategy around the rail hub, comprehensively promote the TOD "urban renewal of station and city integration", follow the planning idea of "regional planning, integration of industry and city", play the "financing+renewal" combination, promote the research of 7 hub projects, 8 intercity line projects, and more than 10 market cooperation projects, and build Qianhai hub (Figure 2) into a fully functional urban complex, Upgrade the airport east to an internationally leading air-railway hub, build the Xili hub as a new sample of railway local cooperation, and focus on developing and gradually forming the management and technical advantages of the hub combined with urban development and construction.

05 Actively promote the construction of "one network" in the Greater Bay Area of Guangdong, Hong Kong and Macao through diversified cooperation

Shenzhen Railway Group will give full play to the advantages of "rail+" resource integration, and gradually build an open platform for the integration of "financing+marketization".

The first is to cooperate with industry benchmarking enterprises to expand market-oriented project resources.

We will develop a mechanism for coordinating interests through consultation, joint construction and win-win results, fully mobilize the forces of governments, enterprises, markets and other parties, build a community of interests, and jointly expand project resources. Actively introduce strategic partners and cooperate with Vanke in depth to plan the renewal projects of Shenzhen Bay Super Headquarters Base, Xili Hub and many cities around the railway, and successively sign strategic cooperation agreements with the industry benchmark enterprises such as TEFA, Shenye, Ping An, Sun Hung Kai, Chow Tai Fook, China Resources Land, and build a platform company with the district's urban investment enterprises, and jointly participate in the important urban hub projects and the renewal of cities around the station Integrated construction of stations and cities, such as overall planning of interests.

The second is to help build the Guangdong-Hong Kong-Macao Greater Bay Rail Metropolitan Area and build a benchmark for the integration of production, station and city.

With the advantage of "three railways in one", study the land along the rail transit line in the metropolitan area in advance, pre-control the vehicle base of the extension line, do a good job in the early planning and research work of the development of the surrounding and upper cover of the rail stations, promote the comprehensive upgrading of the industry, transportation and space along the rail transit area, promote the coordinated development of the rail transit ecosystem and the Bay Area, and drive and support the leapfrog development of relevant towns and functional areas in the Greater Bay Area of Guangdong, Hong Kong and Macao, Build a "metropolitan area on track". At present, Shenzhen Railway Real Estate has signed cooperation agreements with local urban investment companies such as Huiyang Urban Investment, Shantou Investment Control, etc., to complement the advantages of local governments and district-level urban investment companies, and work together to build an industry-city integration 4.0 project that will help the development of Dawan District.

Figure 3 Actual photo of Shenwan Huiyun Project

Source: Shenzhen Metro Real Estate Group Co., Ltd