CRC Said to Reach Deal Letting It Lead Bullet Train Industry

(Beijing) – China Railway Corp. (CRC) will continue to lead the country's bullet train industry after recently reaching an agreement with a new company that handles all rail equipment manufacturing, a source with knowledge of the matter says.

The operator of the country's railroads started talking with China CNR Corp. Ltd. and CSR Corp. Ltd. at the beginning of the year about who would set technological standards for the country's bullet trains once the pair merged, the person said.