Recently, Beijing City Metro Company Limited (“Beijing City Metro”), a joint venture company held by CCRTT, and Beijing Dongzhimen Airport Express Railway Company Limited entered into an agreement in relation to the transfer of operating income right of the airport express line of the Beijing subway for a period of 30 years (the “Transfer Agreement,” including the operating income rights of airport express line and part floors of the Dongzhimen Aviation Services Building) , which marked Beijing City Metro officially became the operator of Airport express of Beijing subway.
Airport express line of Beijing subway is the first express line in Beijing, which connecting Beijing urban area and Capital International Airport with a total length of 28.1km, 4 stations, 1 depot and 1 air service building. It fully opened in July 19th, 2008, and charged market-oriented fares at one-way 25 RMB.
This time, CCRTT acquired operating income rights of the airport express line of the Beijing subway through Beijing City Metro, which makes Beijing City Metro gained experience rapidly on metro line operating performance, setting up metro operating team and opening up the channel to participate in the market-oriented PPP projects. The signing of transfer agreement laid a solid foundation for the expansion of group business, and it’s an important part to realize strategic development of the group. it is also the exploration and attempt of the group entering into railway transportation operating fields, and has an important strategic significance for the group to face a boarder market in the future.