World Economy

China Trainmakers Clinch Deal

China Trainmakers Clinch DealChina Trainmakers Clinch Deal

China CNR Corp Ltd and CSR Corp, China’s two top trainmakers, recently signed deals worth 45.41 billion yuan ($7.26b) with Chinese and foreign firms, Reuters reported. CSR said on Monday it signed 14 deals worth 21.11 billion yuan, including the sale of electric trains and maintenance contracts, equivalent to 21.6% of its 2013 revenue. CNR signed 30 contracts worth a total of 24.3b yuan, which involved high-speed trains, urban subways and electric vehicles, equivalent to about 25% of its 2013 revenue, it said. CNR’s deals included the confirmation of a 4.1b yuan subway contract with the Massachusetts Bay Transportation Authority, which it announced in October.