Feb 20, 2024 06:25 AM

BUSINESS

EU Launches Anti-Subsidy Probe on CRRC Unit in Bulgarian Train Deal

By Du Zhihang, Zou Xiaotong and Han Wei

00:00

00:00/00:00

Listen to this article 1x

CRRC is the world’s largest rolling stock manufacturer supplying products and services to more than 100 countries and regions

CRRC is the world’s largest rolling stock manufacturer supplying products and services to more than 100 countries and regions

The European Union has opened an unprecedented investigation into a unit of China’s state-owned train maker CRRC Co. Ltd. (607166.SH) over alleged unfair subsidies.

The European Commission announced the probe Friday on CRRC unit Qingdao Sifang Locomotive and Rolling Stock Co. Ltd. over its bid for a €610 million ($657 million) public procurement contract in Bulgaria to provide electric trains along with maintenance and staff training.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Asia New Vision Forum Kicks Off in Singapore

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe

00:00

00:00/00:00

MOST POPULAR

1: Sinopec and Saudi Aramco Launch $10 Billion Petrochemical Venture in Fujian

2: Cover Story: How the Yuan is Taking Over the Dollar’s Role in Global Trade

3: Finance Movers and Shakers: Former Securities Watchdog Chief Yi Huiman Under Graft Probe

4: Hong Kong Moves to Ease Capital Rules for Banks Holding Licensed Crypto

5: China’s Regulator Ramps Up Push to Curb Food Delivery Subsidy War

SPONSORED

OR