China’s newly merged train company stock jumped 10%

Global Business

China’s newly merged train making company — CRRC — started trading today in both Shanghai and Hong Kong. The company’s stock jumped by the 10 percent daily gain limit in Shanghai, and rose 4.5 percent in Hong Kong.

China\'s newly merged train company stock jumped 10%

China\'s newly merged train company stock jumped 10%

China's newly merged train making company -- CRRC -- started trading today in both Shanghai and Hong Kong. The company's stock jumped by the 10 percent daily gain limit in Shanghai, and rose 4.5 percent in Hong Kong.

CCTV’s Mi Jiayi filed this report from Shanghai.

Highlights:

  • CRRC was formed by the merger of the two biggest train makers in China: CNR and CSR.
  • The stock regulator suspended the trading of the two companies stocks in May while transferring CNR’s shares into CSR.
  • Some of CRRC’s international competitors include Bombardier of Canada, Alstom of France and Siemens of Germany.
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