China rail merger forges industrial giant second only to GE

Beijing

CHINA is forging the country's answer to General Electric (GE), combining two state-owned railroad equipment makers to create the world's second-largest industrial company. And the giant isn't planning to stay at home.

The merger of CSR Corp and China CNR Corp is now complete, producing a nearly US$130-billion behemoth called CRRC Corp with economies of scale that will allow China to compete even more aggressively for overseas rail deals.