The national railway operator China Railway introduced dynamic prices on its high-speed railway lines, expecting to improve profitability even with crucial discounts on tickets.
The pricing strategy applies to 1,300 trains moving on more than 130 lines across the country. It increases ticket prices on trains with the highest traffic volume, which are expected to be constantly sold out, while offering discounts on low-demand trains to fill seats in off-peak hours. The longer journey routes are subject to higher discounts.
Depending on the way and train, ticket prices can be reduced by up to 60%.
The Chinese railway, formally known as the China State Railway Group, has embarked on an ambitious plan for the dynamic improvement of high-speed rail routes. At the end of 2024, the company operated 48,000 km of specified routes, which represents a three-fold increase over a decade.
However, the increase in passenger numbers did not follow the expansion of routes. China Railway debt amounted to 6.19 trillion yuan (872 billion dollars) at the end of June.
China Railway announced that it plans to grow dynamic pricing in consequence to supply and request to improve the comfort of travel for more passengers. Previously, the operator utilized this price mechanics only on certain routes.
Dynamic pricing is commonly utilized in industries specified as airlines and hotel industry.
Source Nikkei Asia
Leszek B. Glass
Email: [email protected]
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