China takes 10% of global rail market

A CRH (China Railway High-speed) train runs on the rail in Shanghai, April 8, 2009. [Photo/IC]

So far, China has exported its railway technology to more than 30 countries and regions, including ASEAN countries, Argentina, Australia and the United states.

The overseas march was mainly led by state-owned firms, with their exports accounting for around 70 percent of the total value, according to the GAC data.

Although a latecomer to the field, Chinese railway equipment companies have thrived due to cost advantage and shorter delivery time.

According to German transportation consultant firm, SCI Verkehr, China North Railway and China South Railway, two industry leaders, currently hold the lion's share of the world's HSR market, with their sales revenue equal to the other five top companies combined.

CRCC seeks compensation for Mexico high-speed project by chinadaily.com.cn

China Railway Construction Corp Ltd (CRCC) said on Tuesday that Mexico high-speed project's "indefinite suspension" would not impact its overseas operation, adding that the company is negotiating with the government of Mexico on the project's compensation.

The government of Mexico cut its 2015 budget by nearly 3 percent last Friday after a drop in global oil prices hurt public finances, and decided to shelve a project to build the rail link between Mexico City and the central city of Queretaro.

CRCC shares fell 6.42 percent and 9.91 percent respectively on Jan 30 and Feb 2.

CRCC said the Mexico high-speed project's shelving is an individual case and wouldn't have an effect on its overseas operations, according to an official announcement. The company is negotiating with the Mexico government on the project's compensation.

The Chinese-led consortium, formed by CRCC, CSR and four other Mexican construction firms, won the bid last November to build a 210-km high-speed railway connecting Mexico City with the industrial hub of Queretaro to the north. However, the contract was revoked days later out of domestic issues.