Train-Car Maker Touts Tenfold Jump in Overseas Assets Since 2013
State-owned train-car manufacturer CRRC Corp. has announced that its overseas assets ballooned more than tenfold to 34 billion yuan ($4.9 billion) from 2013 to 2017.
The company touted the increase in its assets abroad as a sign that it has made major strides in its expansion abroad since 2013, when it had about 3 billion yuan in overseas assets. That was the year that President Xi Jinping first proposed the Belt and Road Initiative. The initiative is an ambitious project to forge trade and investment links with other parts of the world through overseas investment.
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