The Chinese government plans to merge its two largest railway equipment manufacturers partly in an effort to win more overseas construction contracts, state media reported.
According to a report on Tuesday in the China Securities Journal, China CNR and CSR Corp will be reorganised into a single entity – more than a decade after the two were split off from the China National Railway Locomotive and Rolling Stock Industry Corp to promote competition in the sector.
However, the two companies have since been criticised for competing against each other to secure high-profile overseas contracts, often with both losing out on bids.
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