the idea’s profit over politics at China’s state-run rail giant, chairman says

producing money — not following political directives — is actually the top priority for Chinese state-owned train giant CRRC, its chairman claimed in which week.

“As an enterprise, CRRC seeks profits. So when we look at the orders, we first assess our interest, the various other things come later,” Liu Hualong, the company’s chair, said in Mandarin.

Considerations about Chinese soft power as well as global political influence “do exist in our agenda, although our ultimate goal is actually always the benefit when adjusting ourselves to the market,” Liu told CNBC at the earth Economic Forum annual meeting in Davos, Switzerland.

Liu was specifically addressing concerns about China’s Belt as well as Road Initiative, which aims to connect Asia, Europe, the Middle East as well as Africa using a vast logistics as well as transport network, using roads, ports, railway tracks, pipelines, airports, transnational electric grids as well as even fiber optic lines. The plan, which continues to evolve, at one point included 65 countries, which together accounted for one-third of global GDP as well as 60 percent of the earth’s population, or 4.5 billion people, according to Oxford Economics.

the idea’s all part of China’s push to enhance global clout — building modern infrastructure can attract more investment as well as trade along the route. The policy could also boost the domestic economy with demand abroad, as well as might soak up some of the overcapacity in China’s industrial sector.

in which’s all led to some skepticism about how Chinese companies are choosing their projects.

“from the construction of the Belt as well as Road, we haven’t genuinely seen any projects where brand new markets are being explored entirely for political interest. What we value is actually the profit as well as sending our products outside China, as well as serving our users,” Liu said.

CRRC is actually the earth’s largets supplier of rail equipment. the idea has been aggressively expanding its business into foreign markets including the U.S.

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