Rail transit is more commonly used to refer to various newly built medium- and short-distance passenger rail systems in economically developed regions. China's rail transit equipment manufacturing industry, after more than 60 years of development, has formed an integrated system for rail transit equipment manufacturing. After the reform and opening-up, the rapid development of the social economy led to a sharp increase in urban transportation demand. By the end of 2020, a total of 40 cities in mainland of China had launched urban rail transit operations. With the further acceleration of urbanization, China's urban rail transit construction is expected to enter a golden period of development. Forward-looking analysis predicts that by 2025, China's urban population will exceed 950 million. The rapid accumulation and growth of urban population are the key factors promoting urban rail transit construction, and it is expected that there will still be significant market space for urban rail transit in China's major cities in the next five years.