Resumen
The Chinese railway infrastructure investment has come to a new developing phase with the feature of privatization and land double-oriented. Most domestic literatures recommend the experiences of the ?private investment & land grant? model of American railway investment system. However, the growth trajectory of private capital and land system in china are considerably different from that of the United States. The paper reveals the role of the various stakeholders in the railway development, re-analyzing the drawbacks of American railroads development model and proposing the warnings to policy options of the current and future Chinese Railway development.