China eyes high-speed rail deals with 28 nations
Updated: 2015-02-11 15:08
By Lan Lan(chinadaily.com.cn)
|
|||||||||||
A CRH train that runs on the Beijing-Shanghai High-Speed Railway leaves Tianjin South Railway Station in North China's Tianjin, June 30, 2012. [Photo/Xinhua] |
The statement said the plan will become another engine to drive the country's exports and help with needed upgrading of domestic industries.
China has relied heavily on the export of large-scale equipment, such as railways and nuclear power facilities, to boost trade after missing its growth target for the third consecutive year.
The country's foreign trade rose by 3.4 percent last year, far behind its target of 7 percent. Exports grew by 4.9 percent last year to 14.4 trillion yuan ($2.32 trillion), and the surplus widened to 2.35 trillion yuan.
In its latest move, China CNR Corp, a leading manufacturer of locomotives in China, announced an export contract for subway trains with the United States on Jan 27. It was the first foray into the US rail transit market, Xinhua News Agency reported.
The manufacturer will sell 284 subway trains worth 4.12 billion yuan to equip Red and Orange subway lines in Boston, the announcement said.
Wang Mengshu, an academic at the Chinese Academy of Engineering who specializes in rail and infrastructure projects, said China boasts the longest rail lines in the world-proof of its technological success-and Chinese rail companies' prices are more competitive than Japanese and German companies.
"Railway exports invigorate the whole industrial chain, including the manufacturing of locomotives, parts and signals," he said.
Chinese companies are more competitive since they are able to offer a whole package of services, including infrastructure construction, locomotive manufacturing, maintenance and professional training, Wang said.
Wednesday's executive meeting also brought a decision to build more business incubators to provide logistics, legal and accounting services for startup companies.
It asked local governments to streamline the administrative procedures for small and micro companies, and to provide offices at low cost or subsidize their rent, Internet and other fixed expenses.
The meeting pledged to use government-backed funds and tax exemptions to support early-stage scientific and technological companies, which often face difficulties in borrowing capital because of their lack of tangible assets.
Angel investors, crowd funding, a regional stock exchange market and intellectual property mortgages will also be encouraged to support startup businesses.
Related Stories
Chinese companies take leading role in building airports in Africa 2015-02-09 08:25
China wants Mexico to protect rights of Chinese firms 2015-02-02 13:17
Rail cargo volume drops 3.9% in 2014 2015-01-30 10:30
Full speed ahead for high speed rail expansion 2015-01-29 10:32
Chinese firm files for compensation over suspended Mexico rail project 2015-02-10 14:08
Today's Top News
Greek PM easily wins confidence vote
Contact group on Ukraine reaches ceasefire deal
China should be alert to deflation risks
Atletico Madrid to open 200 stores in China
Greece eyes bridge agreement next week
G20 plans decisive monetary, fiscal action
Gunmen fire on Marseille police as PM Valls visits city
Obama says still weighing decision on arming Ukraine forces
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Festival Special: Apps that make holiday shopping easier |
Listed firms caught in anti-corruption net |
Conca set to return to China |
CES: Spotlight on Chinese gadgets |
Yearender: What happened around the globe in 2014 |
National Memorial Day for Nanjing Massacre victims |