It's a very fine line to walk though: too much profit, people hate it (it's taking money from them), run at a loss, people hate it (it's a waste of tax money).

It's a very fine line to walk though: too much profit, people hate it (it's taking money from them), run at a loss, people hate it (it's a waste of tax money). But since it is built and owned by the government, the economical benefit is also in the equation other than operation profit. A province would welcome the bullet train network even if it has to pay, if it attracts a capital influx to the province. This is usually true: given the convenience of taking the train, a city get connected means you are almost merged into a mega city, economically. Right now the bullet train is for passenger, but cargo trains are on the timeline now. Think of goods shipped by train but arrive almost as fast as by air: this alone would make the investment a bit worthier than it looks.