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China's giant train makers expected to merge
28.10.2014
China's top two train producers have been reported to be in merger talks in a bid to halt their unproductive rivalry and compete better with Western companies. Exporting Chinese technology is seen as key.
China's top train makers, CNR and CSR, are currently engaged in merger talks, state media reported Tuesday.
The official China Securities Journal claimed the firms had already set up working groups to discuss the details of the integration, which aimed at creating a giant able to compete globally with the likes of Germany's Siemens and Canada's Bombardier.
The two Chinese companies have been fierce rivals in selling their technology abroad, and analysts have argued a merger would enable them to profit from a joint technology base.
Moving fast
China succeeded in building the world's longest high-speed train network in less than a decade. Its leading train producers have frequently voiced their desire to become a larger technology exporter. CSR, for its part, said at Germany's Innotrans railway technology fair in mid-September that it was aiming to boost its activities on the European market.
A merged CNR-CSR would have combined annual revenue of $32.7 billion (25.7 billion euros), based on 2013 company data.
Profiting from an 80-billion-euro government investment program this year, the two companies are expected to produce about 300 new high-speed trains annually. According to German news agency dpa, that is more than Deutsche Bahn's total ICE rolling stock.
New Recruit
what the hell is wrong with you. For rich people? This is for the basic worker. can you not do math? Cnelio already posted the price and average income.
All my relatives earn more than 10,000 rmb a month, some way more, taking a train is like taking a cab, but they got cars, and they all live in the same province as our grandparents and parents.
I sometimes take the rails if I got time, but usually I don't so only took it that one time. Also not in China as much as I want to.
a 300 to 600 ticket is not a big amount, even for factory workers, who usually earn 2,500-3000 as a minimum.
You do know maids at Shanghai go for as high as 20,000+ rmb a month and even the lower end ones go for 3,000 as a part time maid.
WE ARE NOT VIETNAM, we beat Vietnam not by having more people but we are 4+ times your per capita, and more if we take into account your population is way less, so the number is a more diluted as a result.
it so like Japan in North Japan, hard working people.
Good achievement of China, I wonder why Japan and China is not united for building high speed rail system in the world.
Interesting, live in less expensive region and use high speed train for work