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China's state-owned CSR and CNR railway companies are being reunited into a single entity via a roughly $26 billion merger of equals. The two companies are being brought together "In order to promote the prosperous development of the global rolling stock manufacturing industry," and to eliminate competition between the two entities when bidding on foreign projects. CNR and CSR together command more than 90 per cent of the rolling-stock market on the Chinese mainland, including the country's multibillion-dollar high-speed train market.
Through the merger, the newly-formed CRRC Corporation Limited is charged with building a brand-new, world-leading, multinational supplier of high-end equipment and systems solutions with rolling stock at its core. The merger is expected to improve efficiency in the use of resources, effectively reduce operating costs, and realize the internationalization strategy, thereby promoting competition globally.
Keywords: High-Speed Train, Rolling Stock, Manufacturing, Railway, China, ARC Advisory Group.