China EximBank finances railway engineering, equipment manufacture

Updated 2017-10-03 15:30:52 Xinhua

The Export-Import Bank of China (China EximBank) has signed a 200-billion-yuan (about 30 billion U.S. dollars) agreement with China Railway Construction Corporation (CRCC) to help the latter sharpen its competitiveness.

The bank will offer the construction group a wide range of financial services, including credit support and information counseling, according to the agreement.

Through the move, the China EximBank hopes to help CRCC increase its core competitiveness in railway engineering and equipment manufacturing,and encourage outbound cooperation.

CRCC, whose business scope covers virtually every aspect of engineering construction, has constructed hundreds of projects around the world.

In recent years, Chinese enterprises have been quickening their pace of "going global", and have gained a strong competitive edge in the area of railway construction.

China has the world's longest high-speed rail network, with 22,000 kilometers currently in operation. About one-third of the country's high-speed railways were designed to run at a speed of 350 kph.

Chinese-manufactured high-speed trains have been sold to Indonesia, Russia, Iran and India.

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