China is considering merging the two dominant state-owned railway equipment producers to lead a high-speed rail export drive, in a move that would create the world’s largest company of its kind in terms of operating revenue.
If approved, the merger of China North Locomotive and Rolling Stock Corp (CNR) and China South Locomotive and Rolling Stock Corp (CSR) would form an entity controlling well over 90 per cent of the domestic Chinese rail equipment market.
The revenues of the combined group would exceed those of global competitors like Bombardier, Alstom and Siemens. CSR and CNR have announced ambitious targets to increase operating income more than three-fold in the next five years, to around Rmb150bn ($22.7bn) and Rmb140bn respectively.
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