CSR Corporation Limited (the “Company”) has recently entered into certain major contracts, with an aggregate value of approximately RMB 20.84 billion. Details of such
contracts are set out below:
1. CSR Zhuzhou Electric Locomotive Co., Ltd., a wholly-owned subsidiary of the Company, has entered into a contract with Transnet Freight Rail in South Africa in
relation to the sale of locomotives with a value of approximately RMB 12.8 billion.
2. CSR Yangtze Rolling Stock Co., Ltd. and CSR Erqi Co., Ltd., both wholly-owned subsidiaries of the Company, have entered into contracts with Shenhua Rail and
Freight Wagons Transport Co., Ltd.
3. CSR Nanjing Puzhen Rolling Stock Co., Ltd., CSR Sifang Rolling Stock Co., Ltd. and CSR Chengdu Locomotive & Rolling Stock Co., Ltd., all wholly-owned subsidiaries of the Company, have entered into contracts with certain railway bureaus under China
Railway Corporation in relation to the overhauling of passenger carriages with an aggregate value of approximately RMB 1.26 billion, respectively.
4. CSR Zhuzhou Electric Locomotive Co., Ltd., a wholly-owned subsidiary of the Company, has entered into contracts with Nanning Rail Transit Group Co., Ltd. (
JILIN MIDAS HAD ALWAYS WON CONTRACTS FROM CSR ZHUZHOU PREVIOUSLY . NOW THAT THEY HAD JUST WON A MEGA CONTRACT FROM SOUTH AFRICA ... CAN WE EXPECT SOME BIG ORDERS TO COME IN SOON
Under the measures announced by Premier Li Keqiang, small businesses will get bigger tax breaks, social housing will be built to replace shantytowns and railway construction will be sped up.
Li, China's top economic official, announced the new measures on Wednesday evening after a regular meeting of the State Council, China's cabinet.
It comes as signs mount that China's economy continues to slow, raising fears it may expand less than the 7.5 percent that the country's leaders have officially targeted. Factory data released earlier this week showed that business conditions in the first quarter remained mostly weak.
China's policymakers are opting for smaller, more finely tuned economic relief measures rather than the massive spending and borrowing they unleashed following the 2008 financial crisis. The sweeping stimulus helped China's economy recover rapidly but also led to a credit boom that leaders are now trying to rein in.
Some of the latest measures are aimed at financing the construction of public housing and railways, two important parts of China's broader urbanization drive.
The latest measures call for slum clearance to be accelerated. To support redevelopment projects, the China Development Bank, the country's biggest policy lender, will set up a special agency to issue home financing bonds.
To finance railway construction, authorities will create a special fund worth 200-300 billion yuan ($32-$48 billion) a year. They will also issue up to 150 billion yuan of bonds annually and encourage bank loans.
Li reiterated that China plans to build 6,600 kilometers (4,101 miles) of railway this year, some 1,000 kilometers more than was built last year. About 80 percent of that will be in China's central and western regions
ZEN wrote: Under the measures announced by Premier Li Keqiang, small businesses will get bigger tax breaks, social housing will be built to replace shantytowns and railway construction will be sped up.
Li, China's top economic official, announced the new measures on Wednesday evening after a regular meeting of the State Council, China's cabinet.
It comes as signs mount that China's economy continues to slow, raising fears it may expand less than the 7.5 percent that the country's leaders have officially targeted. Factory data released earlier this week showed that business conditions in the first quarter remained mostly weak.
China's policymakers are opting for smaller, more finely tuned economic relief measures rather than the massive spending and borrowing they unleashed following the 2008 financial crisis. The sweeping stimulus helped China's economy recover rapidly but also led to a credit boom that leaders are now trying to rein in.
Some of the latest measures are aimed at financing the construction of public housing and railways, two important parts of China's broader urbanization drive.
The latest measures call for slum clearance to be accelerated. To support redevelopment projects, the China Development Bank, the country's biggest policy lender, will set up a special agency to issue home financing bonds.
To finance railway construction, authorities will create a special fund worth 200-300 billion yuan ($32-$48 billion) a year. They will also issue up to 150 billion yuan of bonds annually and encourage bank loans.
Li reiterated that China plans to build 6,600 kilometers (4,101 miles) of railway this year, some 1,000 kilometers more than was built last year. About 80 percent of that will be in China's central and western regions
