Abstract:A bi-level programming model was established, of which the upperlevel pursues the maximum railway enterprise’s benefits and the minimum social cost respectively, and the lowerlevel was modeled based on users equilibrium theory, to figure out sharing rate of different transport modes, passenger flow of differentranks intercity trains and operating frequency of trains with different dwell plans and objectives. The bilevel model was solved by simulated annealing (SA) algorithm. In the end, this paper contrasted and analyzed the operating frequency of intercity trains under the two different objectives respectively by a sample to provide theoretic support for optimal management of railway in intercity passenger corridor.