From sublime to ridiculous. China’s railway infrastructure builders have stopped at both of late.
Since the fourth quarter last year, there have been three visits to sublime. In October: dual Hong Kong and Shanghai-listed China CNR beat global players including Bombardier to a $567m contract to provide Boston’s subway with rolling stock. It was China’s first win in the US.
In November: a $12bn deal for China Railway Construction Corp (CRCC), similarly listed, to build 1,400km of high-speed line linking Lagos, Nigeria’s commercial centre, with Calabar in the east. It is the largest Chinese overseas contract of any sort to date.
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