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China's high-speed train maker to get USD 30 bn for export

Press Trust of India  |  Beijing 

The Railway Construction Corporation (CRCC), which is making a strong bid to export its high-speed technology, will get 30 billion in funding to sharpen its competitiveness in the overseas markets, state media reported today.

The Export-Import of (Exim Bank) has signed an agreement with to provide 200-billion-yuan (about 30 billion) to enable it aggressively market its technology abroad.

The will offer a wide range of financial services, including credit support and information counselling, the state-run Xinhua agency reported.

China has identified its bullet technology as one of the items to boost its sagging

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

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, which recently increased the speed of its bullet to 350 kms, has the world's longest high-speed rail network with 22,000 kms currently in operation.

It is now trying hard to market it abroad including in India. The CRCC has undertaken feasibility study to build the high-speed corridor in the New Delhi-Chennai sector.

Japan bagged the first train project in India between Mumbai and Ahmedabad.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, October 03 2017. 14:57 IST