开通运营仅3年的台湾高铁由于巨额亏损和债务压力几近破产。近年来该高铁公司改变了原来以私营为主导的性质,且在台湾当局的干预下进行了重大财务重组。本文介绍了台湾高铁的投融资模式、运营状况以及财务危机处理过程,并总结了相应的教训。 Taiwan’s high-speed rail, which opened in only three years of operation, nearly went bankrupt due to huge losses and debt pressure. In recent years, the high-speed railway company has changed its original private-led nature and conducted major financial restructuring under the intervention of the Taiwan authorities. This article introduces the investment and financing mode, operation status and financial crisis process of Taiwan’s high-speed rail and sums up the corresponding lessons.