A testing facility of the Tangshan Railway Vehicle Co, a subsidiary of the China Northern Railway.The merger of CNR with China Southern Railway gained approval in January. Photo: EPA

Reform plan for China’s state firms boosts investors' confidence, but questions remain

Some analysts question whether mergers will boost productivity at the notoriously inefficient SOEs

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A testing facility of the Tangshan Railway Vehicle Co, a subsidiary of the China Northern Railway.The merger of CNR with China Southern Railway gained approval in January. Photo: EPA
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