Manufacturing News

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.

Since last October, the CNR and CSR have started the merge program on the principle of reciprocity as two well-operated companies with comparable strength. It is also China's first merger case of two companies both listed on the mainland and Hong Kong.

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.

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