CRRC Said to Want US$ 16 Bln Worth of Foreign Orders by 2020

(Beijing) – China's state-owned rail equipment maker is planning to get orders worth US$ 16 billion from overseas markets by 2020, a person close to the company says.

China Railway Rolling Stock Corp. Ltd. (CRRC) recently made the plan to expand its overseas businesses because it is seeing little increase in domestic orders and it is suffering from overcapacity, the source said.