China launches new national railway corporation

China’s new national railway operator China Railway Corporation went into business .

The corporation, with a registered capital of just over 1 trillion yuan invested by China’s Ministry of Finance, is a state-owned enterprise. It is administered by the central government, and supervised by the Ministry of Transport.

Sheng Guangzu, the former railway minister, has been appointed the corporation’s legal representative and general manager.

The new China Railway Corporation is responsible for railway business operations, while the newly formed State Railway Administration will perform the administrative functions.

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