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  1. Cash-starved corporations to issue bonds

    Posted Oct 11th 2011, 12:00am

    ... the second quarter, China Railway 19 Bureau Group, a subsidiary of China Railway Construction Corporation (CRCC), suffered a net operating cash outflow of 123.5 million yuan, compared to a net ... the Ministry of Finance yesterday announced that the tax on interest payment from railway bonds would be halved from 2011 to 2013. Separately, China CNR Corporation, a Shanghai-listed train maker, ...

  2. China's railway rush on a track to trouble

    Posted Jan 24th 2011, 12:00am by Toh Han Shih

    ... said Lee. 'The rapid growth of China's urban railway is planting a lot of time bombs for the future,' he said. 'A lot of cities along the China metro railway are being built at super-fast speed. In five years, asset replacement will be a major issue for metros in China.' Li agreed with that view. 'If you're building so many railways at the same time, when you ...

  3. Railways, transport ministries team up for projects

    Posted Oct 17th 2011, 12:00am

    ... to the border town of Alashankou in Xinjiang province, the railways ministry website said. Five other container rail projects are in the pipeline: Shenzhen to southern and southwest China; Tianjin ... a Shanghai equity analyst said. 'Many rail projects have been halted for lack of funds and many workers have not been paid.' Major builder China Railway Construction Corp has not received ...

  4. Beijing backs 200b yuan boost for railways ministry

    Posted Nov 02nd 2011, 12:00am

    ... quarter, of which 40 billion yuan have been issued. The bond issue would enable the ministry to pay China Railway Group and CRCC, the two dominant rail construction firms, as well as other rail companies, said James Chung, an analyst with MasterLink Securities. 'The balance sheets of China Railway Group and China Railway Construction Corporation [CRCC] will definitely improve ...

  5. Press points finger at greedy and callous railways officials

    Posted Jul 31st 2011, 12:00am

    ... said was the direct cause of the crash, was almost entirely provided by a state-owned industrial monopoly called the China Railway Signal and Communication Corporation. Meanwhile, another investigative report carried by Global Entrepreneur said many Japanese railway specialists either working in China or dealing with it had long expressed their concern about the low level of safety ...

  6. Railway industry chief dies amid probe

    Posted Aug 24th 2011, 12:00am

    ... Stephen Chen binglin.chen@scmp.com The general manager of the mainland's major supplier of railway signalling equipment died on Monday at the height of a probe into last month's fatal high-speed train collision in Wenzhou, prompting speculation about his cause of death. China Railway Signal and Communication Corporation released an obituary on its website yesterday ...

  7. Beijing railway chief axed in wake of crash

    Posted Oct 17th 2011, 12:00am

    ... that Huang may be transferred to a deputy managerial post at Beijing-Shanghai High-Speed Railway Corporation. Xinhua reported later yesterday the Beijing bureau had confirmed Huang had on 'a ... Will Clem in Shanghai william.clem@scmp.com In another indication that more reshuffles are looming in the nation's embattled railway system, the railways minister has announced plans ...

  8. Rail building budget slashed by 100b yuan

    Posted May 07th 2011, 12:00am

    ... Group and China Railway Construction Corporation (CRCC) are the two dominant state-owned rail construction firms, accounting for more than 80 per cent of the railways built on the mainland. Liu ... but are controlled by the local governments of the cities where they are built. Tough line Cuts in new railway orders are linked to an anti-graft investigation China Railway Construction Corporation saw ...

  9. Beijing's budget for railways slashed

    Posted Apr 14th 2011, 12:00am

    ... in the Ministry of Railways leadership resulted in a full reassessment of the regulatory approval process.' In the first quarter of this year, new orders at China Railway, which is listed in Shanghai and Hong Kong, fell 25 per cent to 90 billion yuan, of which only 20 billion yuan was for railway projects, down 50 per cent year-on-year, Li said. Meanwhile, China Railway Construction Corporation ...

  10. Railway firms charge ahead despite accident

    Posted Dec 31st 2011, 12:00am

    ... financial officer of China Railway, a large state-owned railway construction company. The Shanghai and Hong Kong-listed company announced yesterday that it had gained a US$1.15 billion contract ... if something like that happens again.' Although the report partly blamed China Railway Signal and Communication, a state-owned company that supplied the faulty signalling system, it did ...




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