Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Chinese Image Providers Shut Down for ‘Illegal’ Work With Foreign News
Shanghai Court Freezes Assets of Wanda Group Founder’s Son Wang Sicong
Xiaomi Budget Brand Redmi Releases Cheaper Than Expected 5G Smartphone
LATEST
Hillhouse-Backed Genor Plans $200 Million Hong Kong IPO
GitHub Looks to Open Subsidiary in China
5G Handsets Grow As Proportion Of China’s Sluggish Smartphone Market
China Executes Man Who Killed 3 Fearing Wife’s Forced Abortion Under One-Child Policy
Agriculture Insurance Companies Take A Hit From African Swine Fever
Tencent-Backed News App Denies Explosive Fraud Allegations From U.S. Due-Diligence Firm
Defying Sentiment, WeWork’s China Rival Files for New York IPO
Electric Car Maker Nio Cuts 141 Jobs at North American Headquarters
Huawei Wins Telefonica Deal to Help Build German 5G Network
China Unveils First 3D Images From Newest Earth Observation Satellite
Tesla to Raise Prices in China Again, Sources Say
Didi Considered Safest Ride-Hailing Platform Despite Murders, Survey Shows
Risks and Benefits of China’s Private Sector Bailout
Xiaomi Budget Brand Redmi Releases Cheaper Than Expected 5G Smartphone
Major Chinese Freight Line Sees Shipments Fall 8% Amid Slumping Coal Demand
Sales of Chinese-Made Excavators Slow Amid Cooling Infrastructure Investment
BAIC Slump Persists With Bleak November NEV Figures
Shanghai Court Freezes Assets of Wanda Group Founder’s Son Wang Sicong
ByteDance Eyes Another TikTok-Like Success With New Music App
Chinese Cellphone Maker Oppo Expands Smart Hardware Offerings

By Han Wei / Jan 03, 2019 03:32 AM / Business & Tech

Photo: VCG

Photo: VCG

China Railway Corp. (CRC), the country’s state railway operator, is accelerating its drive for corporate reforms and private investment to bolster business efficiency, General Manager Lu Dongfu said Wednesday.

CRC this year will step up debt-for-equity swaps and equity sales to attract new capital and reduce its debt ratio, Lu said. The company will also promote reforms to improve its corporate governance and management.

The rail operator is among dozens of China’s state-owned companies that have initiated so-called mixed-ownership reforms to invite private investors into state-controlled sectors.

In 2018, China completed 802.8 billion yuan ($116.8 billion) of fixed-asset investment in the railway sector, up 0.22% from the previous year and a three-year high. By the end of 2018, the country’s railway system totaled 131,000 kilometers, including 29,000 kilometers of high-speed lines, according to Lu.

Related:State Railway Operator Puts Cargo Unit Stake Up for Sale

Share this article
Open WeChat and scan the QR code