As China is constructing its high-speed railway (HSR) system, many places are also building HSR New Town.

The construction of HSR system is a good thing to the transportation system; however, this might not necessarily be the same to urban development.

ANBOUND's scholars are of the view that under the new normal of the economy, in addition to the downturn in real estate market, many local governments are also facing downward economic pressure and increased fiscal pressure, hence, the negative impacts of the construction of HSR New Town will be revealed gradually.

For small and medium cities, HSR New Town can hardly bring any significant benefits, but rather, the construction spree will burden the cities with heavy debts.

Many local governments now taste the bitter fruits from the HSR Town.