Train-makers set for sales boost abroad
Updated: 2015-02-06 07:25
By Zhong Nan(China Daily)
Last year, the country's train－makers exported railway equipment worth 26.77 billion yuan ($4.36 billion), a year-on-year increase of 22.6 percent. [Photo provided to China Daily]
Rail equipment companies given backing to widen their global services and production
China is to take new measures to help its train-makers expand sales channels globally, government officials said on Thursday.
The support comes after the country saw the fastest growth in rail equipment exports and railway infrastructure projects in overseas markets last year.
Zhi Luxun, deputy director-general of the Department of Foreign Trade at the Ministry of Commerce, said China will quicken the pace of promoting its railway standards abroad.
It will also support rail equipment makers in widening their global services and production networks to compete with more established rivals in different regional markets.
To date, China has exported its railway technology to more than 30 countries and regions, including member countries of the Association of Southeast Asian Nations, Argentina, Australia and the United States.
"Widening the international sales network and manufacturing bases in overseas markets can help Chinese train-makers to improve their localization abilities, as well as gaining political and public support through local employment," Zhi said.
China has seen railway equipment exports surge as industry leaders explore overseas markets.
Last year, the country's train－makers exported railway equipment worth 26.77 billion yuan ($4.36 billion), a year-on-year increase of 22.6 percent, according to the General Administration of Customs.
Chinese project contractors were involved in 348 international railway infrastructure construction projects in countries including Kenya, Thailand and Saudi Arabia last year, an increase of 48 percent from the previous year. They signed contracts worth $24.7 billion with clients worldwide.