China Railway Rolling Stock Corporation formally established
China Railway Rolling Stock Corporation (CRRC) was formally established through the merger of China CNR Corporation Limited and CSR Corporation Limited on September 28, 2015, Beijing Times reported.
On June 8, the CRRC was listed on the Shanghai Stock Exchange and Hong Kong Stock Exchange upon the approval by the China Securities Regulatory Commission (CSRC). On August 5, the CNR and CSR formally signed the merger agreement, which initiated the corporate reorganization of the two companies. On Sept. 28, the CRRC announced the formal establishment of the company.
Headquartered in Beijing, the CRRC has 46 wholly-owned and majority-owned subsidiaries and more than 170,000 employees.
By the end of June 2015, the total value of the overseas projects undertaken by the CRRC amounted to 54.5 billion yuan. The products of the company are exported to over 80 countries and regions. The American market has become a key overseas market of the company. The profit of overseas business of the CRRC is slightly higher than its domestic business.